Hanwha Chairman Kim Seung-yeon Receives 3 Billion KRW in Compensation for First Half of the Year, Three Months After Return

[Asia Economy Reporter Hwang Yoon-joo] Kim Seung-yeon, chairman of Hanwha Group, who returned to management in February this year after a 7-year employment restriction was lifted, received a total of 3 billion KRW in the first half of the year.

According to Hanwha Group's semi-annual report, Chairman Kim received 900 million KRW from Hanwha Corporation, 900 million KRW from Hanwha Solutions, and 1.2 billion KRW from Hanwha Construction.

Chairman Kim was convicted of breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes in February 2014 and stepped down from seven CEO positions, with his probation period ending in February 2019.

After the employment restriction under the same law, which applied for two years, was lifted in February this year, he returned to management in March as an unregistered executive at three core companies: the parent company Hanwha Corporation, Hanwha Solutions, and Hanwha Construction.

Hanwha explained, "Salaries were paid comprehensively reflecting duties, rank, expertise, and company contribution according to the executive compensation regulations set by the board of directors."

Kim Seung-yeon's eldest son, Kim Dong-kwan, CEO of Hanwha Corporation and Hanwha Solutions, received 912 million KRW and 984 million KRW respectively from the two companies, totaling 1.896 billion KRW.

However, the company stated that Kim Dong-kwan's compensation includes restricted stock units with transfer limitations, so the final payment amount will be determined based on the stock price in January 2031.

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