Chairman Shin Dong-bin Received 17.8 Billion KRW in Compensation from Five Listed Lotte Companies Last Year (Comprehensive)

Jung Yongjin, Chairman of Shinsegae Group, Received 3.6 Billion KRW
Jung Jisun, Chairman of Hyundai Department Store Group, Received Over 5 Billion KRW

Shin Dong-bin, Chairman of Lotte Group, received 17.8 billion KRW in compensation last year from five listed companies including Lotte Holdings.

Shin Dong-bin, Chairman of Lotte. Provided by Lotte Holdings

According to the business reports disclosed by each company on the Financial Supervisory Service's electronic disclosure system on the 18th, Chairman Shin received 5.972 billion KRW from Lotte Holdings last year, including a salary of 3.8 billion KRW and a bonus of 2.17 billion KRW. Among the affiliates, he received 3.8 billion KRW from Lotte Chemical, 1.964 billion KRW from Lotte Shopping, 2.65 billion KRW from Lotte Wellfood, and 3.493 billion KRW from Lotte Chilsung Beverage.

The total compensation Chairman Shin received from these five companies was 17.834 billion KRW, an increase of 119 million KRW (0.67%) compared to the previous year (17.715 billion KRW). Including the salaries from unlisted companies such as Hotel Lotte and Lotte Property & Development, which have not yet disclosed their business reports, the total amount is expected to increase further.

Jung Yong-jin, Chairman of Shinsegae Group. Photo by Shinsegae Group

Jung Yong-jin, Chairman of Shinsegae Group, received a total of 3.609 billion KRW in compensation last year. This is a 2.4% decrease compared to the previous year. Of this, the salary was 1.982 billion KRW, the same as last year, and the bonus was 1.627 billion KRW, down 90 million KRW from 1.717 billion KRW the previous year. The company explained, "Although Chairman Jung achieved results such as turning Emart profitable, he reduced his annual salary with the attitude of leading by example to overcome the still challenging internal and external management environment."

In addition, the chairman group including Lee Myung-hee, Chairwoman of Shinsegae Group, and Jung Jae-eun, Honorary Chairman, also reduced their salaries and did not receive any performance bonuses. The compensation for Chairwoman Lee and Honorary Chairman Jung was set at 1.767 billion KRW, including a salary of 1.54 billion KRW and Lunar New Year and Chuseok bonuses of 263 million KRW. This is a decrease of 1.298 billion KRW (42.3%) compared to the previous year. Additionally, they each received 1.264 billion KRW from Shinsegae Co., Ltd., and the total compensation they received from Emart and Shinsegae last year decreased by 37.5% compared to the previous year.

The Shinsegae Group stated, "The reduction in the chairman group's annual salary last year signifies their commitment to leading the company's reform efforts."

Jung Ji-sun, Chairman of Hyundai Department Store Group. Photo by Hyundai Department Store

Jung Ji-sun, Chairman of Hyundai Department Store Group, received 5.044 billion KRW from Hyundai Department Store last year. His salary was 3.72 billion KRW, and he received a bonus of 1.341 billion KRW. This is an increase of 304 million KRW (6.4%) compared to the previous year (4.74 billion KRW).

Jung's younger brother, Vice Chairman Jung Kyo-sun, received 1.767 billion KRW from Hyundai Department Store, an increase of 37 million KRW (2.1%) compared to the previous year. Vice Chairman Jung also received 2.043 billion KRW as CEO compensation from Hyundai Home Shopping. Since both will also receive compensation from Hyundai G.F. Holdings, which is scheduled to disclose its business report on the 21st, their total compensation is expected to increase further.

In addition, Kim Dong-sun, the third son of Kim Seung-yeon, Chairman of Hanwha Group, who is Vice President in charge of Future Vision at Hanwha Galleria and Hanwha Hotels & Resorts, received 1.29 billion KRW from Hanwha Galleria and 970 million KRW from Hanwha Hotels & Resorts last year as compensation.