The Highest-Paid Telecom CEO is SKT's Yoo Sang-young with 3.08 Billion Won Salary

In One Year, a 50% Increase
KT's Kim Youngseop Receives 900 Million KRW... LG Uplus' Former CEO Hwang Hyunsik Gets 1.99 Billion KRW

Among the CEOs of the three major telecommunications companies last year, the highest-paid "salary king" was Yoo Young-sang, CEO of SK Telecom.

According to the business reports of the three telecom companies on the 21st, CEO Yoo received 3.083 billion KRW last year. This included a salary of 1.4 billion KRW, bonuses of 1.64 billion KRW, stock option exercise gains of 17 million KRW, and other income such as executive welfare benefits amounting to 26 million KRW.

CEO Yoo's compensation increased by nearly 50% from 2.065 billion KRW in 2023. In particular, the bonus nearly doubled compared to the previous year (836 million KRW).

In addition, CEO Yoo was granted 26,555 PSU units under SK Telecom's Performance Stock Unit (PSU) compensation system, which are not included in the reported compensation. PSU is a system where SK Telecom awards shares to employees based on performance. When designated performance targets are met, one unit converts into one common share of the company.

CEO Yoo was recognized for strengthening profitability through structural improvements while laying the foundation for growth in the artificial intelligence (AI) business last year.

Kim Young-seop, CEO of KT, received 910 million KRW in compensation last year. This consisted of a salary of 556 million KRW, bonuses of 332 million KRW, and other income of 13 million KRW. This is the first time the compensation of CEO Kim, who took office in August 2023, has been disclosed.

Hwang Hyun-sik, former CEO of LG Uplus who retired at the end of last year, received 1.992 billion KRW in compensation last year. This included a salary of 1.04 billion KRW, bonuses of 585 million KRW, and other income of 3 million KRW. This was about a 13% increase compared to the previous year (1.76 billion KRW). Hong Beom-sik has been appointed as his successor.

Among executives, Kang Jong-ryeol, CSPO in charge of ICT infrastructure at SK Telecom, received nearly 5.2 billion KRW in total compensation including retirement pay (3.727 billion KRW), the highest among executives of the three telecom companies.

The average salary per employee was highest at SK Telecom with 161 million KRW. KT had 110 million KRW, and LG Uplus had 109 million KRW. The average salary increase rates were LG Uplus (7.92%), SK Telecom (5.92%), and KT (2.73%), in that order.