Kakao's Highest Earner is Former CTO Shin Jeong-hwan with '12.8 Billion'... Founder Kim Beom-su Earns 1 Billion
[Asia Economy Reporter Kang Nahum] Last year, the highest-paid executive at Kakao was former Chief Technology Officer (CTO) Shin Jeonghwan, who received over 12.8 billion KRW. Co-CEOs Cho Sooyong and Yeo Minsu received 4.67 billion KRW and 2.661 billion KRW respectively, while founder Kim Beomsoo received 1 billion KRW.
According to Kakao's 2021 business report released on the 21st, former CTO Shin received a total of 12.874 billion KRW last year, including a salary of 317 million KRW, bonuses of 205 million KRW, stock option exercise gains of 12.168 billion KRW, other labor income of 2 million KRW, and retirement income of 182 million KRW.
Co-CEO Yeo received a total of 2.661 billion KRW, including a salary of 520 million KRW, bonuses of 2.156 billion KRW, and other labor income of 3 million KRW. This amount decreased by about 3.8 billion KRW compared to the previous year’s 6.48 billion KRW.
Co-CEO Cho received a total of 4.67 billion KRW, including a salary of 755 million KRW, bonuses of 3.912 billion KRW, and other labor income of 3 million KRW, an increase of about 1.2 billion KRW from the previous year’s 3.475 billion KRW.
Kakao commented on the bonuses for these co-CEOs, stating, "As CEOs, they successfully coordinated leadership between Kakao and the Kakao community based on their expertise in business areas."
Founder Kim received a total of 1.04 billion KRW, including a salary of 530 million KRW, bonuses of 500 million KRW, and other income of 1 million KRW. Kakao explained Kim’s bonuses by saying, "As chairman of the board, he led the creation of synergies within the Kakao community and the discovery of future growth engines."
Newly appointed CEO Namgung Hoon received a total of 6.158 billion KRW, combining a salary of 73 million KRW and stock option gains of 6.086 billion KRW.
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Last year, the average salary of all 3,472 Kakao employees was 172 million KRW.
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