GS Chairman Huh Tae-soo Received 5.36 Billion KRW in Compensation for the First Half of the Year

[Asia Economy Reporter Ryu Tae-min] Heo Tae-soo, chairman of GS Group, received a total compensation of 5.365 billion KRW in the first half of this year.

According to GS's semi-annual report on the 16th, Chairman Heo received 1.292 billion KRW in salary and 4.073 billion KRW in bonuses during the first half. His compensation for the first half of this year increased by 229.1% compared to the first half of last year (1.63 billion KRW).

GS explained that, according to the executive personnel management regulations, they comprehensively considered quantitative indicators such as net profit for the period and qualitative indicators including domestic and international economic and market conditions, new business strategy formulation and execution, crisis response capabilities, ESG (environment, social, governance), and talent development activities. Based on these indicators, bonuses can be paid within a range of 0 to 200% of the annual salary.

GS added, "Regarding quantitative indicators, we considered the management performance such as net profit for the period of major subsidiaries last year," and "Regarding qualitative indicators, we took into account the proactive response and discovery of future growth engines in a challenging business environment, which enabled improvement of the business portfolio and qualitative growth."

Hong Soon-ki, president of GS, received a total compensation of 2.089 billion KRW in the first half, including 548 million KRW in salary and 1.541 billion KRW in bonuses.