LG Uplus President (CEO) Hong Bum-Shik received a total of 1.816 billion won in compensation in the first half of this year. That was up 1.102 billion won (154.3%) from the same period last year.
According to LG Uplus' semiannual report disclosed on the Financial Supervisory Service's electronic disclosure system on the 14th, Hong's compensation consisted of 726 million won in salary, 1.089 billion won in bonus, and 10 million won in other earned income. The salary reflected an average monthly base pay of 67 million won and a position allowance of 54 million won.
The company said it calculated the bonus by comprehensively considering performance in carrying out mid- to long-term management tasks, the transition to artificial intelligence (AI), customer value innovation, and talent development.
Hong, who took office as CEO in Mar. last year, received 714 million won in the first half of last year. At the time, the average monthly compensation was 53 million won.
Hong joined LG Group in 2019 after serving as head of business strategy at SK Telecom and as head of Bain & Company Korea. He then served as head of corporate strategy at LG Corp., overseeing the identification of growth engines, mergers and acquisitions (M&A), and business restructuring for the group. He is currently working to strengthen LG Uplus' telecommunications competitiveness while expanding AI-based business-to-consumer (B2C) and business-to-business (B2B) transactions for corporations.
Starting this year, with strengthened disclosure standards for executive compensation, listed companies are also releasing performance indicators such as operating profit and total shareholder return (TSR) for the past three years. LG Uplus' operating profit in the first half of this year was 616.7 billion won, and its TSR was minus (-) 1.11%, according to the disclosure.