Jeon Young-hyun, President of Samsung SDI, Received 3.1 Billion KRW in Compensation Last Year

Jeon Young-hyun, President of Samsung SDI

[Asia Economy Reporter Kim Heung-soon] Jeon Young-hyun, president of Samsung SDI, received about 3.1 billion KRW in compensation last year.

According to the 2020 business report disclosed by Samsung SDI on the 9th, President Jeon received 3.069 billion KRW in compensation last year. Specifically, he received 1.085 billion KRW, including a monthly position allowance of 8 million KRW and a monthly competency allowance of 82 million KRW according to the executive treatment regulations. Additionally, bonuses such as holiday bonuses, target incentives, and performance incentives amounted to 1.954 billion KRW.

Samsung SDI explained this by stating, "The bonuses were calculated considering his role as CEO overseeing overall company management and contributing to business performance, as well as strengthening competitiveness in development, manufacturing, and technology departments to establish a mid- to long-term growth foundation for the company."

Furthermore, Advisor Lim Young-ho received 4.258 billion KRW, including about 2.4 billion KRW in severance pay, and Advisor Kim Jung-wook received 3.446 billion KRW, including about 1.9 billion KRW in severance pay. Former Vice Presidents Ahn Tae-hyuk and Kwon Young-no received 3.376 billion KRW and 3.245 billion KRW respectively, each including severance pay in the 2 billion KRW range. Former Vice President Kim Yu-mi, a female executive, also received 3.281 billion KRW including severance pay.

Meanwhile, Samsung SDI is understood to have spent a record 808.3 billion KRW on research and development last year to lead the development of next-generation electric vehicle battery technology. During the same period, capital expenditure (CAPEX) reached 1.6 trillion KRW. This year, the company plans to invest about 1 trillion KRW in its Hungarian subsidiary to expand the battery factory and consider establishing a second plant.