Chairman Chung Eui-sun Received 10.6 Billion KRW in Group Salary Last Year

Hyundai Motor 7 Billion KRW · Hyundai Mobis 3.6 Billion KRW
Increase of 1.85 Billion KRW Compared to Previous Year

Hyundai Motor Chairman Chung Eui-sun is entering the Lotte Hotel in Jung-gu, Seoul on the 17th to meet Crown Prince Bin Salman of Saudi Arabia. Photo by Yoon Dong-joo doso7@

Chung Euisun, Chairman of Hyundai Motor Group, received a salary in the 10 billion KRW range last year. This is an increase of more than 1.8 billion KRW compared to the previous year.

On the 15th, Hyundai Motor disclosed that Chairman Chung was paid a total of 7.001 billion KRW last year, consisting of a salary of 4 billion KRW, a bonus of 3 billion KRW, and other labor income of 1 million KRW. This is an increase of 1.6 billion KRW from the previous year, when he received 5.410 billion KRW.

As a registered executive at Hyundai Mobis, Chairman Chung also received 3.625 billion KRW, including a salary of 2.5 billion KRW and a bonus of 1.125 billion KRW. The salary remained the same as the previous year, while the bonus increased by 250 million KRW.

Combining the salaries from both companies, the total annual income amounts to 10.626 billion KRW. Although Chairman Chung also serves as a registered executive at Kia, he does not receive any compensation there.

Hyundai Motor Group explained, "Chairman Chung’s 2022 compensation includes salary based on the executive pay table, as well as bonuses reflecting business performance achievements and management results as an executive."

Jang Jaehoon, CEO of Hyundai Motor, received 2.932 billion KRW last year. This amount includes a salary of 1.116 billion KRW, a bonus of 1.805 billion KRW, and other labor income of 11 million KRW. This is three times the amount of the previous year (977 million KRW).

Hyundai Motor Group stated, "Considering the excellent management performance achieved through strengthening profitability, improving business structure, and expanding global sales in an increasingly uncertain business environment, as well as the overall management results as an executive (CEO)."

Additionally, Park Jungguk, President and Head of R&D, received 1.089 billion KRW; Lee Dongsuk, Vice President in charge of domestic production (CEO), received 924 million KRW; and Seo Kanghyun, Vice President and Head of Finance, received 834 million KRW.