Cho Won-tae, chairman of Hanjin Group, received a compensation of 10.21273 billion won last year. This is a 25.2% increase compared to last year's 8.15715 billion won.
According to the 2024 business reports of Korean Air, Hanjin KAL, and Jin Air released on the 18th, Cho received 5.103 billion won from Korean Air, 4.15373 billion won from Hanjin KAL, and 956 million won from Jin Air.
The compensation from Hanjin KAL decreased by 2% compared to the previous year, but the compensation from Korean Air increased by 30%, and the total amount increased since receiving compensation from Jin Air starting last year.
Korean Air returned part of the executives' compensation from April 2020, right after the COVID-19 pandemic, until 2022, but has been paying normal compensation since 2023.
Last year, the company successfully completed the merger with Asiana Airlines, resulting in large performance bonuses being paid out.
A Korean Air official said, "There was no change in salary, but performance bonuses based on management results and performance were paid," adding that "salaries were determined based on the director compensation payment standards, and confirmed after a series of procedures including prior review by the compensation committee and approval by the board of directors."