The average salary of employees at Dunamu, the operator of the cryptocurrency exchange Upbit, has exceeded 150 million won in the first half of the year. This is much higher than that of major domestic companies, including Samsung Electronics, and surpasses the salaries of commercial banks, which are favored by job seekers for their high salaries.
According to the Financial Supervisory Service on the 19th, the average salary of 659 employees at Dunamu in the first half of the year was 152.69 million won, the highest on record. The number of employees increased by over 50 compared to the same period last year, and the salary amount rose by 20 million won (from 133.72 million won in the first half of 2024). The average annual salary was 199.9 million won at the end of last year, but it is predicted that the average annual salary of Dunamu employees will far exceed 200 million won by the end of this year.
The average salary of Dunamu employees is significantly higher than the average salary of the four major commercial banks for the first half of the year, which was at an all-time high due to strong performance this year. According to the FSS, the average salary for employees at KB Kookmin, Shinhan, Hana, and Woori banks was reported to be 63.5 million won for the first half, an increase of 3 million won compared to the same period last year (60.5 million won).
Song Chi-hyung, chairman of Dunamu, received the highest compensation among all financial holding companies. Chairman Song earned 4.46168 billion won in the first half, which is a combined total of 1.52588 billion won in salary and 2.93580 billion won in bonuses. This amount is significantly higher than that of Kim Ki-hong, chairman of JB Financial Group (3.382 billion won), and Yoo Myung-sun, CEO of Citibank Korea (2.876 billion won).
Dunamu's ability to provide high salaries to its employees is attributed to the booming cryptocurrency market. The company's operating profit for the first half of the year was 549.1 billion won, which is an 11% increase from 494.7 billion won in the same period last year, while net profit rose by 4.9% to 418.2 billion won from 398.5 billion won in the same period last year. Upbit continues to maintain its position as the leader in the domestic cryptocurrency trading market, with an approximately 70% market share.
The salaries of Dunamu employees show a significant difference compared to those at Bithumb, which ranks second in market share. The average salary of 562 employees at Bithumb in the first half was 48 million won, a decrease from 57 million won during the same period last year. Although Bithumb's revenue for the first half was 329.2 billion won, a more than 35% increase compared to the previous year, profitability was poor due to enhanced user benefits and marketing that have continued since last year. Additionally, the number of employees increased by nearly 200 compared to the previous year, which also had an impact.