Hyundai Motor Group Chairman Chung Euisun is attending the '2025 Hyundai Motor Group New Year's Meeting' held on the 6th at Hyundai Motorstudio in Goyang, Gyeonggi Province. Photo by Kim Hyunmin
Chung Eui-sun, Chairman of Hyundai Motor Group, received a total annual salary of 11.5 billion KRW last year.
According to the business report disclosed by Hyundai Motor on the 12th, Chairman Chung's compensation from Hyundai Motor last year amounted to 4 billion KRW in salary and 3.087 billion KRW in bonuses and other income, totaling 7.087 billion KRW. This represents a decrease of 1.114 billion KRW (13.6%) compared to the previous year (8.21 billion KRW).
Chairman Chung also received 2.5 billion KRW in salary, 1.75 billion KRW in bonuses, and 181 million KRW in other labor income from Hyundai Mobis, where he serves as a registered executive, totaling 4.431 billion KRW.
Combined, Chairman Chung's total annual salary last year was approximately 11.518 billion KRW, a 5.6% (683 million KRW) decrease from 12.21 billion KRW the previous year.
In addition, Chairman Chung holds a registered executive position at Kia, but he did not receive compensation from Kia until last year. However, if the compensation plan for Chairman Chung is approved at Kia's shareholders' meeting scheduled for this month, he will start receiving compensation from Kia this year.
Hyundai Motor Group explained that the decrease in Chairman Chung's compensation was due to a 33.3% reduction in bonuses (2.8 billion KRW) from Hyundai Motor compared to 2023 (4.2 billion KRW).
Hyundai Motor Group stated, "Bonuses are determined by comprehensively reflecting quantitative indicators such as management performance and achievement of business goals, as well as qualitative indicators including executive performance and contribution, and internal and external business environments." They added, "The decrease in bonus payments last year was influenced by the base effect of the bonuses paid in 2023, which reflected record-high management performance."
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