Lotte Chairman Shin Dong-bin Receives 10.285 Billion KRW in Compensation for First Half of the Year

[Asia Economy Reporter Ryu Tae-min] Shin Dong-bin, chairman of Lotte Group, received a total compensation of 10.285 billion KRW from Lotte Holdings and six affiliates in the first half of this year. This amount increased by more than 2 billion KRW compared to the 7.972 billion KRW he received in the first half of last year, and it exceeded the total compensation (3.517 billion KRW) he received from Lotte Holdings throughout last year.

According to the semi-annual reports disclosed by these companies on the 16th, Chairman Shin received 4.249 billion KRW from Lotte Holdings in the first half. His salary was 1.915 billion KRW, and his bonus was 2.333 billion KRW. He received 945 million KRW from Lotte Shopping, 1.915 billion KRW from Lotte Chemical, 1.061 billion KRW from Hotel Lotte, 1.025 billion KRW from Lotte Confectionery, and 545 million KRW each from Lotte Chilsung Beverage and Lotte Property & Development.

Regarding this, Lotte Group explained, "The bonus from Lotte Holdings for last year's performance was paid early this year, increasing the total compensation," adding, "The bonus from Lotte Holdings considered the improvement in subsidiary performance and financial structure despite the difficulties caused by COVID-19 last year, as well as the creation of the group's mid- to long-term future value through new business initiatives."

The Shinsegae family received a total of 7.935 billion KRW in the first half. Lee Myung-hee, chairman of Shinsegae Group, received a total of 2.254 billion KRW, including 721 million KRW from Shinsegae and 1.533 billion KRW from E-mart. Her husband, Jung Jae-eun, honorary chairman of Shinsegae Group, also received the same amount of compensation from the two companies. Jung Yong-jin, vice chairman of Shinsegae Group, received 1.739 billion KRW from E-mart, and Jung Yoo-kyung, general manager of Shinsegae, received 1.688 billion KRW from Shinsegae, respectively.