Chairman Cho Won-tae of Hanjin Group, 1.71 Billion KRW Compensation in First Half of the Year

Jowon Tae Hanjin Chairman

[Asia Economy Reporter Hwang Yoon-joo] Cho Won-tae, Chairman of Hanjin Group, received a salary of 1,718,190,000 KRW in the first half of this year.

According to the 2022 semi-annual reports of Korean Air and Hanjin KAL on the 12th, Chairman Cho received 869,190,000 KRW from Korean Air and 849,000,000 KRW from Hanjin KAL in the first half of the year.

This is similar to the 1,715,200,000 KRW salary he received in the first half of last year. This year, an additional 3,000,000 KRW was paid for medical expenses as part of in-house welfare benefits.

Korean Air explained, "In accordance with the director compensation payment standards, monthly compensation was calculated comprehensively reflecting position, duties, leadership, expertise, and company contribution," adding, "This was finalized and paid through prior review by the compensation committee and execution approval by the board of directors."

The average salary per Korean Air employee in the first half increased from 35,340,000 KRW last year to 46,600,000 KRW this year. The average salary appears to have risen due to increased allowances following the expansion of international flights this year.

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