Park Jung-ho SKT CEO's 7.4 Billion KRW Salary Last Year... Telecom's 'Salary King' Prestige

SK Telecom Business Report Disclosure on the 16th
Salary 1.7 Billion KRW, Bonus 5.7 Billion KRW

[Asia Economy Reporter Minyoung Cha] Park Jung-ho, CEO of SK Telecom, who was the 'salary king' among the three major mobile carriers last year, received a total compensation of 7.38 billion KRW last year. This amount is more than 3.8 billion KRW higher than the previous year.

According to SK Telecom's business report disclosed on the 16th, CEO Park Jung-ho's total salary last year was 7.38 billion KRW. This includes a base salary of 1.7 billion KRW, a bonus of 5.679 billion KRW from earned income, and other earned income of 10 million KRW. No stock options were exercised, so no gains were realized.

CEO Park's salary has increased exponentially over three years, from approximately 3.56 billion KRW in 2018 to 4.531 billion KRW in 2019, and then to 7.38 billion KRW in 2020. This means it more than doubled compared to two years ago.

Positive evaluations were given for the company's overall profitability improvement and record-high sales in 2019. SK Telecom's consolidated sales in 2019 rose 5.2% year-on-year to 17.7437 trillion KRW, reaching an all-time high. The overall operating profit also turned positive.

By sector, achievements included the world's first successful commercialization of 5G and reaching 2.08 million subscribers, pioneering new 5G markets such as ultra-low latency Mobile Edge Computing (MEC) and cloud gaming, data-driven customer experience innovation, and growth in key business areas such as media, security, and commerce. Strengthening SK Hynix's competitiveness and establishing a mid-to-long-term growth foundation, as well as strategic investments and partnerships with Kakao resulting in a 183% return, were also among the major accomplishments.

Given the improvement in overall company performance and profitability last year, Park Jung-ho is effectively securing the title of salary king for next year as well. SK Telecom's provisional figures for 2020 annual sales were 18.6247 trillion KRW, and operating profit was 1.3493 trillion KRW. Sales increased by 5%, and operating profit rose by 21.8%. During the same period, net income increased by 74.3% to 1.5005 trillion KRW, influenced by equity method gains from SK Hynix.

Meanwhile, Yoo Sang-young, an inside director and head of the MNO division, also received a total salary of 2.229 billion KRW along with stock options.

This content was produced with the assistance of AI translation services.