Hyundai Motor Chairman Chung, who never attended a board meeting, received 5.5 billion won in 2018
Hyundai Motor Chairman Chung, who never attended a board meeting, received 5.5 billion won in 2018
  • Lee Jun-sung
  • 승인 2019.04.08 11:57
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Hyundai Motor Group Chairman Chung Mong-koo received 5.47 billion won in remuneration last year, although he never participated a board of directors' meeting.

According to the business report of each company and FnGuide, a financial information provider, CEOs of the nation's top 30 companies received an average 2.97 billion won in remuneration last year, which is about 30.3 times higher than that of ordinary employees who received an average 98 million won.

Among the group owners, Hyundai Motor Chairman Chung Mong-koo reached 5.47 billion won, 59.5 times higher than the average salary of 92 million won for ordinary employees. SK Chairman Chey Tae-won followed with 3 billion won, 34.5 times higher than the average salary of 87 million won for ordinary workers.

Chairman Chung was absent from both the board of directors' meetings of Hyundai Motor and Hyundai Mobis. Hyundai Motor Executive Vice Chairman Chung Eui-sun showed a 27 percent attendance rate at the board of directors' meetings at Hyundai Motor and 9 percent attendance rate at Hyundai Mobis, while he never attended the board meetings of Kia Motors and Hyundai Steel.

Samsung Electronics Vice Chairman Lee Jae-yong also never attended a board of directors' meeting last year, according to an analysis of the 2018 business report by the Solidarity for Economic Reform.

The Solidarity for Economic Reform criticized, "The chairmen of the groups who do not attend the board meetings seem to only enjoy their authority as board members and avoid the responsibility that corresponds to them. They should put down their posts by themselves if they do not want to do the minimum duty of attending the board meetings."


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