Lee Boo-jin, President of Hotel Shilla, Earned 4.9 Billion KRW Last Year... 50% Increase from Previous Year

Average Employee Salary Fell 15% Last Year Due to COVID-19 Impact

[Image source=Yonhap News]

[Asia Economy Reporter Kim Ji-hee] Amid the impact of COVID-19 last year, the average annual salary of Hotel Shilla employees decreased by 15%, while President Lee Boo-jin's salary increased by more than 50%.

According to the Financial Supervisory Service's electronic disclosure system on the 22nd, President Lee received an annual salary of 4.892 billion KRW, a 52.6% increase compared to the previous year. Of this, her base salary was 1.184 billion KRW, bonuses amounted to 3.71 billion KRW, and other labor income was 7 million KRW.

Hotel Shilla stated regarding the bonuses, "Considering the contribution to achieving sales of 3.1881 trillion KRW last year amid a difficult external business environment, continuous company growth, maintaining competitiveness in each business sector, and organizational stability through demonstrated management capabilities and leadership."

They also explained, "The long-term incentives from the period of strong business performance between 2017 and 2019 were reflected all at once."

On the other hand, the average annual salary of Hotel Shilla employees last year was only 50 million KRW, down 15.3% from the previous year. Hotel Shilla recorded an operating loss of 185.3 billion KRW last year due to the COVID-19 shock, turning to a deficit.

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