Average annual salary is 93.65 million KRW
IBK, where new employees receive a starting salary of 53.34 million KRW, ranks first
IBK President Kim Seong-tae also earns 399.19 million KRW,
the highest salary among institution heads
Among financial public enterprises known as "dream workplaces," KDB Industrial Bank has the highest average annual salary for employees. IBK Industrial Bank offers the highest salaries for new employees, women, and institution heads, while the only institution where women earn more than men is Korea Minting and Security Printing Corporation.
According to the Public Institution Management Information Disclosure System (Alio) on the 7th, the average annual salary per person last year among 11 financial public enterprises (under the Financial Services Commission and Ministry of Strategy and Finance) was 93,651,820 KRW. Among them, the highest annual salary was at Industrial Bank with 112,999,000 KRW. Following were Korea Investment Corporation (109,405,000 KRW), IBK Industrial Bank (108,696,000 KRW), and Export-Import Bank (107,862,000 KRW), each recording an average annual salary exceeding 100 million KRW. The institution with the lowest employee salary was the Korea Inclusive Finance Agency (66,993,000 KRW).
The average starting salary for new employees was 45,819,180 KRW. IBK Industrial Bank recorded the highest starting salary for new employees at 53,339,000 KRW. Following were Industrial Bank (51,636,000 KRW) and Korea Credit Guarantee Fund (50,996,000 KRW), both exceeding 50 million KRW. The institution with the lowest starting salary was Korea Minting and Security Printing Corporation (36,890,000 KRW).
The heads of the 11 financial public enterprises received an average annual salary of 311,714,000 KRW. Among them, the highest-paid institution head was Kim Sung-tae, President of IBK Industrial Bank, with 399,188,000 KRW. Following were Jin Seung-ho, President of Korea Investment Corporation (380,331,000 KRW); Kang Seok-hoon, President of Industrial Bank, and Yoon Hee-sung, President of Export-Import Bank (375,135,000 KRW); Choi Won-mok, Chairman of Korea Credit Guarantee Fund (301,726,000 KRW); and Yoo Jae-hoon, President of Korea Deposit Insurance Corporation (300,379,000 KRW), all earning over 300 million KRW. The lowest-paid institution head was the President of Korea Minting and Security Printing Corporation (Ban Jang-sik → Sung Chang-hoon) with 214,098,000 KRW.
The largest gender pay gap was found at Industrial Bank. Male employees at Industrial Bank earned 127,542,000 KRW, while female employees earned 89,679,000 KRW, showing a difference of 37,883,000 KRW. The only institution where the gender pay gap was reversed (women earning more than men) was Korea Minting and Security Printing Corporation. Female employees there earned 87,687,000 KRW, which is 4,266,000 KRW more than male employees who earned 83,421,000 KRW. The institution where men earned the highest salary was also Industrial Bank. The institution where women earned the highest salary was IBK Industrial Bank (100,470,000 KRW), the only institution with an average annual salary exceeding 100 million KRW for women.
Most financial public enterprises are expected to see a decrease in average salary per person in this year’s budget. The institution with the largest salary reduction is Korea Investment Corporation, which budgeted 85,954,000 KRW this year down from 109,405,000 KRW last year. Conversely, the institution with the largest increase is Korea Inclusive Finance Agency (66,993,000 KRW → 68,668,000 KRW).
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