Hyundai Motor Group Chairman Chung Eui-sun received compensation totaling 17.5 billion won last year. With Chung receiving pay from Kia for the first time, his total annual salary rose by more than 50% from a year earlier.
According to a business report disclosed by Hyundai Motor on the 18th, Chung received 4.5 billion won in salary, 4.5 billion won in bonuses, and 10 million won in other earned income last year, for total compensation of 9.001 billion won. That was a 27% increase from a year earlier (7.087 billion won).
As a result, Chung's total compensation received within the group last year came to 17.461 billion won, up 51.6% from the previous year (11.518 billion won). Earlier, Kia and Hyundai Mobis disclosed that they paid Chung 5.4 billion won and 3.06 billion won, respectively. Last year was the first time Chung received compensation from Kia.
Hyundai Motor Vice Chairman Chang Jae-hoon received 5.416 billion won last year, including 2.702 billion won in salary, 2.702 billion won in bonuses, and 12 million won in other earned income. That was up 59.3% from a year earlier.
José Muñoz, Hyundai Motor's first non-Korean chief executive officer (CEO), received 9.729 billion won. That includes 1.599 billion won in salary, 7.847 billion won in bonuses, and 283 million won in other earned income. This was up 242.7% from the prior year, and looking at Hyundai Motor alone, it is a higher annual salary than Chung's.