Hanjin Chairman Won Tae Cho Receives 9.053 Billion Won in First-Half Compensation

Received 5.38 Billion Won from Korean Air and 3.67 Billion Won from Hanjin KAL
Korean Air Compensation Up 41% Thanks to Mid- to Long-Term Performance Bonus

It has been reported that Won Tae Cho, Chairman of Hanjin Group, received a total of 9.053 billion won in compensation from Korean Air and Hanjin KAL in the first half of the year. This amount represents an 11.0% increase compared to the first half of last year.

Won Tae Cho, Chairman of Hanjin Group. Photo by Airport Photographers Group

According to the semi-annual reports released by each company on August 14, Chairman Cho received 5.383 billion won from Korean Air and 3.67 billion won from Hanjin KAL, respectively.

The compensation received from Korean Air increased by 40.8% compared to the same period last year. This was due to the additional incentive payment under the medium- and long-term performance compensation system linked to stock value.

On the other hand, the compensation from Hanjin KAL decreased by 15.2% compared to the same period last year. This reflects the base effect caused by the one-time special incentive that was paid in the first half of last year following the completion of the merger between Korean Air and Asiana Airlines.

As a result, Chairman Cho's first-half compensation from the two companies increased by 901 million won, from 8.152 billion won last year to 9.053 billion won this year.

Chairman Cho also receives compensation from Jin Air and Asiana Airlines, but the specific amounts were not disclosed in the semi-annual reports. Individual compensation disclosures are only required for executives who received 500 million won or more.

This content was produced with the assistance of AI translation services.