Monday, May 15, 2006

Korean Executive Compensation

South Korean corporate executives affiliated with the top 10 chaebol received $382,000 in average annual pay last year. In contrast, non-executive workers averaged about $37,000.

According to corporate disclosures reported to the Financial Supervisory Service (FSS), the top 10 chaebol companies paid out a combined $195 million to a total of 509 executives, outside directors and auditors in 2005.

Samsung topped the list with its executives collecting about $813, 000, with LG, whose executives received $400,000, second.

Hyundai Automotive Group executives averaged about $284,000. Korean compensation is often a base wage plus bonuses.

1 comment:

  1. $382,000? It's peanut. Don't you think so? Korea is nominally capitalist society, but actually she is semi-socialist society which considers society first rather than economy. If American businessmen want to make money in Korea, he/she have to think about it. In my opinion, Japan is the same. Only China, among North East Asia, is different. China is nominally communist society, but Chinese are born-in capitalists.

    Thanks,

    Lee

    ReplyDelete