Chung Euisun, Chairman of Hyundai Motor Group, received a total compensation of 4.5 billion won in the first half of this year.
According to the semiannual reports of Hyundai Motor Group affiliates released on August 14, Chairman Chung received 2.25 billion won from Hyundai Motor Company, 1.35 billion won from Kia, and 900 million won from Hyundai Mobis, respectively.
Chairman Chung's total compensation for the first half of this year increased by 21% compared to the same period last year, when he received 3.718 billion won.
Until last year, Chairman Chung received salaries from two Hyundai Motor Group affiliates: Hyundai Mobis and Hyundai Motor Company. However, starting this year, he also began receiving compensation from Kia.
Hyundai Motor Company explained that executive compensation was determined based on internal standards such as executive wage criteria, and comprehensively reflected factors including role and rank (Chairman), years of service, leadership, expertise, contributions to the company, and talent development.
Jang Jaehoon, Vice Chairman of Hyundai Motor Group, received 1.36 billion won during the same period.
Jose Munoz, President of Hyundai Motor Company, received 935 million won, while Song Ho-sung, President of Kia, received 764 million won.
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