Salary of 1 Won but Bonus Received is 900 Million Won... Who?

Bang Si-hyuk, chairman of HYBE, will receive a salary of 1 won this year.

According to the '2024 Inside Director Compensation Plan' disclosed by HYBE on the 8th, Chairman Bang's annual salary was set at 1 won. The company explained, "The basic salary was decided as 1 won to emphasize the message of strengthening responsible management as chairman and HYBE's 'Pay for Performance' compensation philosophy."

Photo by Dongju Yoon doso7@

원본보기 아이콘

Chairman Bang will receive a bonus of 980 million won according to the short-term performance incentive system. This was determined by the Compensation Committee based on the management performance and evaluation indicators of 2023. Last year, he received a total compensation of 357 million won, including a salary of 50 million won, a bonus of 300 million won, and other labor income of 7 million won.

HYBE CEO Park Ji-won received 1.52 billion won in compensation last year, and his compensation for this year has been set at 2 billion won.

As of December last year, Chairman Bang is the largest shareholder in South Korea's cultural content production and distribution sector. According to a survey by Korea CXO Research Institute, a corporate analysis specialist, Chairman Bang's stock holdings are worth 3.0774 trillion won, accounting for 65.8% of the industry's stock valuation, making him the overwhelming number one. Among 34 individuals holding cultural content stocks worth over 10 billion won, 12 shareholders, including Chairman Bang, were HYBE shareholders. All seven BTS members who enlisted as affiliated artists were also found to be stockholders worth over 10 billion won.

The treatment of employees is also at the highest level in the industry. According to HYBE's business report for the first half of last year posted on the Financial Supervisory Service's electronic disclosure system, the average annual salary per person was 63 million won, ranking first in the industry. This is significantly higher compared to the industry average of 34 million won.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.