Chairman Cho Won-tae Received 2.4 Billion KRW from Korean Air Last Year... "Salary Normalization"
Cho Won-tae, chairman of Hanjin Group, received 2.4 billion KRW from Korean Air last year.
According to Korean Air's business report on the 14th, Chairman Cho received a salary of 2,387.87 million KRW last year. This is a 37.8% (650 million KRW) increase compared to the previous year. There was no bonus.
Korean Air comprehensively reflected factors such as position, duties, leadership, expertise, and company contribution in the director compensation payment criteria. After calculating the monthly salary, it was finalized and paid through prior review by the compensation committee and executive approval by the board of directors.
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Chairman Cho's salary increase is a result of Korean Air's management normalization. Korean Air had returned salaries from April 2020 due to COVID-19. However, from the second half of last year, as the management normalization trend appeared, the salaries of all executives were normalized.
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