Hyundai Motor Reveals Chairman’s Pay for First Time
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Hyundai Motor Co. Chairman Chung Mong Koo revealed his salary for the first time after South Korea stepped up disclosure rules for executive pay to enhance transparency at the nation’s family-run business empires.
The billionaire received 14 billion won ($13 million) in annual compensation from Hyundai Motor, Hyundai Mobis Co. and Hyundai Steel Co., according to annual reports filed yesterday. He got 5.6 billion won from Hyundai Motor, while Mobis and Hyundai Steel each paid him 4.2 billion won, according to the filings.