Chung Yoo-kyung, President of Shinsegae, Earned Over 3.68 Billion KRW Last Year

Salary 1.975 Billion KRW, 5% Increase from Previous Year
Lee Myung-hee, Chairwoman, Compensation Not Disclosed

Jung Yoo-kyung, the General Manager of Shinsegae, was reported to have received a total compensation of approximately 3.68 billion KRW last year.

According to Shinsegae's business report, in 2023, General Manager Jung received a salary of 1.975 billion KRW and a bonus of 1.711 billion KRW, totaling 3.686 billion KRW. This represents an increase of 178 million KRW (5.1%) compared to 3.058 billion KRW in 2022. Shinsegae explained, "Compensation was calculated based on the executive compensation regulations decided by the board of directors, considering position, the nature and performance of delegated tasks, and contribution to the company."

Chung Yoo-kyung, President of Shinsegae Group
Photo by Yonhap News

Jung’s mother, Lee Myung-hee, General Chairwoman of Shinsegae Group, and father, Jung Jae-eun, Honorary Chairman of Shinsegae Group, each received 1.499 billion KRW in 2022, but their compensation for last year was not disclosed. Compensation details are only disclosed for the top five individuals receiving payments of 500 million KRW or more. As President Kwon Hyuk-gu and others stepped down, severance pay was reflected, pushing the annual salary ranking of Chairwoman Lee and her husband outside the top five, thus excluding them from disclosure.

Shinsegae will hold a shareholders' meeting on the 21st to propose the appointment of two new inside directors: Park Joo-hyung, Vice President of Shinsegae, and Heo Byung-hoon, Vice President of Management at Shinsegae Group’s Management Strategy Office. Additionally, Professor Choi Nan-seolheon of Yonsei University Law School will be reappointed as an outside director. Professor Choi is the first female outside director at Shinsegae Department Store.

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