Distribution Family Owner 'Salary King' CJ Lee Jae-hyun... Received 22.1 Billion KRW

Lotte Chairman Shin Dong-bin Also Expected to Approach 20 Billion Won

Lee Jae-hyun, Chairman of CJ Group

Last year, the title of 'highest-paid executive' in the distribution industry was claimed by Lee Jae-hyun, Chairman of CJ Group. Chairman Lee received an annual salary exceeding 20 billion KRW for two consecutive years from CJ Holdings, CJ CheilJedang, and CJ ENM, ranking first not only in the distribution sector but also among business conglomerate heads.

According to the Financial Supervisory Service's electronic disclosure system on the 22nd, Chairman Lee's annual salary last year was recorded at 22.136 billion KRW. This amount represents a 1.3% increase compared to the previous year (21.861 billion KRW). He received 10.644 billion KRW from CJ Holdings alone, which is a 17.3% increase from the previous year (9.073 billion KRW). From CJ CheilJedang, he earned 7.294 billion KRW, and from CJ ENM, 4.198 billion KRW.

Shin Dong-bin, Chairman of Lotte Group, who competes with Chairman Lee for the top salary spot, received a total of 5.406 billion KRW from Lotte Shopping, Lotte Confectionery, and Lotte Chilsung Beverage. However, among the seven affiliates from which Chairman Shin received compensation last year, four affiliates?Lotte Chemical, Hotel Lotte, Lotte Property & Development, and Lotte Holdings?have yet to disclose their business reports. Including these salaries, it is expected that his total annual salary approached 20 billion KRW. Chairman Shin received a total of 18.2597 billion KRW in 2021.

In the Shinsegae Group, Chairwoman Lee Myung-hee received a total of 4.684 billion KRW in compensation from Emart and Shinsegae. Her son, Vice Chairman Chung Yong-jin, earned 3.615 billion KRW from Emart, while his sister, President Chung Yoo-kyung, received 3.508 billion KRW from Shinsegae. In the Hyundai Department Store Group, Chairman Chung Ji-sun received an annual salary of 4.349 billion KRW, a 10.8% increase from the previous year, and his brother, Vice Chairman Chung Kyo-sun, was paid 1.705 billion KRW. In the convenience store industry, Hong Seok-jo, Chairman of BGF Group, received a total of 4.117 billion KRW from BGF and BGF Retail, while Heo Yeon-soo, Vice Chairman of GS Retail, earned 1.888 billion KRW.

Owner-managers' salaries in the food and beverage industry also saw significant increases. Dam Cheol-gon, Chairman of Orion Group, received 4.223 billion KRW last year, and Kim Ho-yeon, Chairman of Binggrae, earned 2.212 billion KRW. Im Se-ryeong, Vice Chairman of Daesang, also received 1.236 billion KRW in compensation last year. Salaries of owners in the ramen industry are also on the rise. Shin Dong-won, Chairman of Nongshim, received 1.596 billion KRW last year, a 14.5% increase from the previous year, and Kim Jung-soo, Chairman of Samyang Foods, earned 2.035 billion KRW, marking a 103.9% increase compared to the previous year. Ham Young-jun, Chairman of Ottogi, also received 897 million KRW, a 10.7% increase from one year prior.

Additionally, Park Moon-duk, Chairman of HiteJinro, received a total of 7.816 billion KRW from HiteJinro Holdings and HiteJinro last year. Lee Boo-jin, CEO of Hotel Shilla, earned 3.506 billion KRW. Seo Kyung-bae, Chairman of the beauty giant AmorePacific Group, received a total of 3.875 billion KRW from AmorePacific Group and AmorePacific.