Lotte's Shin Dong-bin Earns 8 Billion KRW in H1 Salary... Shinsegae Family Heads Earn 7.9 Billion KRW

Shin Dong-bin, Chairman of Lotte Group.

[Asia Economy Reporter Lim Chun-han] Shin Dong-bin, Chairman of Lotte Group, received a total compensation of 7.972 billion KRW from Lotte Holdings and seven affiliates in the first half of this year.

According to the semi-annual reports disclosed by these companies on the 18th, Chairman Shin received 1.75 billion KRW each in salary from Lotte Holdings and Lotte Chemical in the first half. He received 1.01 billion KRW from Hotel Lotte and 950 million KRW from Lotte Confectionery. From Lotte Shopping, he received 750 million KRW, and from Lotte Chilsung Beverage, 500 million KRW in salary. As a non-registered executive at Lotte Property & Development, he received 500 million KRW in salary, and from Lotte Rental, he received 488 million KRW in salary and 283 million KRW in retirement pay, totaling 771 million KRW. Chairman Shin retired from Lotte Rental at the end of May this year.

The total compensation amount increased by about 1.69 billion KRW compared to 6.281 billion KRW in the first half of last year; however, last year Lotte Property & Development and Lotte Rental did not disclose compensation, so their amounts were excluded. It is estimated that the salaries from Lotte Property & Development and Lotte Rental were each less than 500 million KRW in the first half of last year. Considering that Chairman Shin voluntarily returned 30% of his salary for three months in the first half of last year, this year’s compensation is at a similar level to last year.

The Shinsegae family received a total of 7.914 billion KRW in the first half. Lee Myung-hee, Chairwoman of Shinsegae Group, received 611 million KRW from Shinsegae and 1.587 billion KRW from E-Mart, totaling 2.198 billion KRW. Her husband, Jung Jae-eun, Honorary Chairman of Shinsegae Group, also received the same amount from the two companies. Jung Yong-jin, Vice Chairman of Shinsegae Group, received 1.872 billion KRW from E-Mart, and Jung Yoo-kyung, General Manager of Shinsegae, received 1.646 billion KRW from Shinsegae.

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