Hyundai Motor Group Chairman Chung Euisun's Annual Salary Last Year Was 8.7 Billion KRW... Increased by 2.787 Billion KRW from the Previous Year

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[Asia Economy Reporter Seomideum] Chung Euisun, Chairman of Hyundai Motor Group, received over 8.7 billion KRW in annual salary from affiliates last year.

According to Hyundai Motor's 2021 business report disclosed on the 16th, Chairman Chung, CEO of Hyundai Motor, received 4 billion KRW in salary, 1.4 billion KRW in bonuses, and 1 million KRW in other labor income, totaling 5.41 billion KRW.

Adding the 3.375 billion KRW (2.5 billion KRW salary, 875 million KRW bonus) received from Hyundai Mobis, which was disclosed the previous day, Chairman Chung's total annual salary last year reached 8.776 billion KRW.

This is an increase of 2.787 billion KRW compared to the 5.989 billion KRW Chairman Chung received from Hyundai Motor and Hyundai Mobis in 2020. Compared to 2020, he earned about 230 million KRW more per month on average last year.

In the business report, Hyundai Motor explained Chairman Chung's salary last year by stating, "Based on internal standards such as the executive salary table and executive wage determination criteria, we comprehensively reflected duties and positions (CEO/Chairman), leadership, expertise, and talent development."

Regarding bonuses, they stated, "Based on the executive compensation payment criteria (performance incentives), quantitative indicators such as sales and operating profit, and qualitative indicators such as management performance and contribution, as well as internal and external management environments, are comprehensively considered to pay within 0 to 100%. In December, 35% of the total salary was paid."

Other labor income was explained by Hyundai Motor as "welfare benefits (gift expenses) paid based on company regulations."

Chairman Chung holds registered executive positions not only at Hyundai Motor and Hyundai Mobis but also at Kia, but he does not receive compensation from Kia.

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