Shinsegae and Samsung Executives 19 Times More Than Employees
Chaebol.com Analyzes Business Reports of Top 20 Groups
Executives Average 1.09 Billion KRW, Employees 99 Million KRW
The average salary gap between executives and employees in the top 20 domestic conglomerates was found to be 11 times. Among them, Shinsegae Group and Samsung Group showed a gap of 19 times.
On the 24th, Jaebeol.com analyzed the compensation of registered executives and the average employee salary from the 2023 fiscal year business reports of 162 listed companies belonging to the top 20 groups by assets. The average executive compensation was 1,091.1 million KRW, which was 11 times the average employee salary of 99.6 million KRW.
The city center viewed from Namsan, Seoul, on the 26th. Unrelated to the article content. Photo by Jinhyung Kang aymsdream@
Among the groups, Shinsegae Group showed the largest salary gap between executives and employees. The average executive compensation at Shinsegae Group was 1,050.2 million KRW, with a gap of 19.3 times compared to the average employee salary of 54.4 million KRW.
Following were Samsung Group (18.9 times), CJ Group (17.1 times), LG Group and Lotte Group (15.9 times), GS Group (14 times), Doosan Group (13.8 times), Hyundai Motor Group (12.9 times), and HD Hyundai Group (12.6 times).
NongHyup Group had the smallest gap between executive compensation and employee salary at 1.8 times. The average executive compensation at NongHyup was 222 million KRW, and the average employee salary was 124 million KRW.
Following were Kakao Group (3.5 times), KT Group (4.1 times), DL Group (5 times), Jungheung Construction Group (5.1 times), and HMM Group (5.3 times), showing relatively small gaps.
The group with the highest average executive compensation was Samsung Group (2,215 million KRW). LG Group (1,577.2 million KRW), Hyundai Motor Group (1,485.7 million KRW), Doosan Group (1,192.1 million KRW), HD Hyundai Group (1,161.1 million KRW), and SK Group (1,126.5 million KRW) followed.
NongHyup Group had the lowest average executive compensation at 222 million KRW. KT Group had 291.7 million KRW, and Kakao Group had 328.3 million KRW.
In terms of average employee salary, NongHyup Group was the highest at 124 million KRW. HMM (123.3 million KRW), SK Group (117.5 million KRW), Samsung Group (117.4 million KRW), and Hyundai Motor Group (115.3 million KRW) followed.
Shinsegae Group had the lowest average employee salary at 54.4 million KRW. CJ Group (55.3 million KRW), Lotte Group (63.3 million KRW), GS Group (67.6 million KRW), and KT Group (70.17 million KRW) followed.
Due to last year's economic downturn and decreased performance, the average compensation of registered executives and employee salaries at listed companies of the top 20 groups decreased by 7.6% and 0.5%, respectively, compared to the previous year. Samsung Electronics' average executive compensation was 4,420 million KRW, down about 24% from 5,786 million KRW the previous year. Employee salaries also decreased by 11%, from 135 million KRW to 120 million KRW.
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