Chairman Cho Won-tae of Hanjin Group Earned 3.4 Billion KRW Last Year

Cho Won-tae, Chairman of Hanjin Group.

[Asia Economy Reporter Moon Hyewon] It has been revealed that Cho Won-tae, Chairman of Hanjin Group, received an annual salary of 3,430,410,000 KRW last year.

According to the 2021 business reports of Hanjin KAL and Korean Air on the 15th, Chairman Cho received 1,732,410,000 KRW from Korean Air and 1,698,000,000 KRW from Hanjin KAL last year.

Chairman Cho's salary last year increased compared to 2020 (3,098,410,000 KRW). The salary paid by Korean Air remained the same as the previous year, but the salary from Hanjin KAL rose from 1,366,000,000 KRW.

He did not receive any bonuses. Compared to the 2020 annual salary, it appears to have been virtually frozen.

Korean Air explained that regarding Chairman Cho's compensation, the monthly salary was calculated comprehensively reflecting position, duties, leadership, expertise, and company contribution according to the director compensation payment standards, and then finalized and paid through prior review by the compensation committee and execution approval by the board of directors.

Meanwhile, last year, the total salary of Korean Air employees was 1,238.2 billion KRW, and the average salary per person was 69.13 million KRW. Compared to the average salary per person of 80.82 million KRW in 2019, before the COVID-19 pandemic, it remains at a low level.

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