April 20, 2024
Samsung
Samsung heir earns less for being behind bars last year
[THE INVESTOR] Samsung Electronics Vice Chairman Lee Jae-yong received a much lower salary of 871 million won last year (US$819,611), as he spent most of his time behind bars for his alleged role in the Choi Soon-sil scandal.
In a regulatory filing on April 2, the tech giant said that Lee’s paycheck was actually smaller from the year 2016 -- down 24.3 percent -- because he was paid only for the months of January and February. The rest of the time, he was in jail.
Lee was released in February on probation and has been resuming some of his duties. A final trial is still pending.
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Samsung Electronics Vice Chairman Lee Jae-yong |
Samsung Electronics CEO Kwon Oh-hyun took home 24.38 billion won (US$22.94 million) last year, becoming the best-earning Korean executive with no blood ties with the owner family for a three year in a row.
Kwon’s salary included 22.54 billion won of special bonuses.
Samsung said it took into account Kwon’s role for boosting the tech giant’s semiconductor business, which hit an annual 50 trillion won operating profit.
Following Kwon was Shin Jong-kyun, vice chairman for Samsung Electronics’ human resources, who made 8.43 billion won last year to become the second-highest earner, followed by Yoon Boo-keun, Samsung vice chairman, with 7.7 billion won.
By Ahn Sung-mi (sahn@heraldcorp.com)
