Co-CEOs of Kakao, Jo Sooyong and Yeo Minsu. / Photo by Kang Jinhyung aymsdream@
[Asia Economy Reporter Ryu Tae-min] Former Kakao co-CEOs Cho Soo-yong and Yeo Min-soo each received over 30 billion KRW in compensation in the first half of this year.
According to Kakao's 2022 semi-annual report released on the 16th, former co-CEO Cho Soo-yong received a total of 36.147 billion KRW in the first half of this year, including a salary of 385 million KRW, bonuses of 1.3 billion KRW, and stock option exercise gains of 33.75 billion KRW. During the same period, former co-CEO Yeo Min-soo also received a total of 33.217 billion KRW, including a salary of 256 million KRW, bonuses of 900 million KRW, and stock option exercise gains of 31.824 billion KRW.
In addition, former CTO (Chief Technology Officer) Jeong Ui-jung and former Head of the Community Consensus Center Kim Joo-won received 9.568 billion KRW and 7.734 billion KRW respectively, ranking among the top five.
Current Kakao co-CEO Namgoong Hoon was excluded from this compensation disclosure as his pay was below 500 million KRW. Earlier this year, CEO Namgoong stated, "I will suspend all salary and incentive payments until Kakao's stock price reaches 150,000 KRW, and will only receive the legal minimum wage," adding, "If stock options are granted, I requested that the exercise price not be set below 150,000 KRW."
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