Annual Salary of 4 Billion KRW... Who Is the Highest-Paid CEO Among Card Companies?

Jung Tae-young, Vice Chairman of Hyundai Card, Ranked Highest Salary Last Year

[Asia Economy Reporter Ki Ha-young] Last year, the highest-paid CEO among credit card companies was Chung Tae-young, Vice Chairman of Hyundai Card.

According to the Financial Supervisory Service's electronic disclosure system on the 4th, Vice Chairman Chung received approximately 4 billion KRW in total compensation, including 1.777 billion KRW from Hyundai Card, 917 million KRW from Hyundai Capital, and 1.295 billion KRW from Hyundai Commercial.

Hyundai Card stated, "Despite internal and external challenges such as fee reductions, we achieved operating profit of 206.2 billion KRW and net profit of 153.7 billion KRW," adding, "We considered the establishment of a foundation for revitalizing the stagnant market through discovering new partnerships, as well as enhancing customer convenience and securing additional revenue bases by integrating digital technology into finance."

The CEO with the second highest salary was Won Ki-chan, former President of Samsung Card, who moved to Samsung Lions. Former President Won received a total of 2.427 billion KRW last year, including 965 million KRW in salary and 1.397 billion KRW in bonuses.

Samsung Card explained, "Considering the pre-tax profit of 445.3 billion KRW in 2019, which exceeded profit targets, and efforts to diversify membership registration channels and continuously strengthen member assets through improving customer convenience."

Following them were former CEO Kim Chang-kwon of Lotte Card with 944 million KRW, Shinhan Card President Lim Young-jin with a total of 829 million KRW, and KB Kookmin Card President Lee Dong-chul with 550 million KRW in compensation last year.

BC Card, Woori Card, and Hana Card did not disclose individual CEO salaries as none exceeded 500 million KRW.