Samsung Electronics disclosed the annual salaries of its key executives for the previous year through its 2024 business report.
The highest-paid individual was Kyung Kye-hyun, former head of the semiconductor division, who received a total of 8.036 billion KRW.
Kyung earned a salary of 1.188 billion KRW, a bonus of 1.453 billion KRW, and a retirement payment of 5.272 billion KRW, making him the highest-paid executive. Following him, Lee Jung-bae, former head of the Memory Business Division, and Choi Si-young, former head of the Foundry Business Division, received 6.95 billion KRW and 6.9 billion KRW, respectively.
These figures also include retirement payments exceeding 4.1 billion KRW for each individual.
Among the current executives, excluding retirees, Vice Chairman and CEO Han Jong-hee recorded the highest salary, receiving 5.24 billion KRW.
Han's compensation consisted of a salary of 1.617 billion KRW and a bonus of 3.492 billion KRW. Close behind was Roh Tae-moon, head of the Mobile eXperience (MX) Business Division, who earned 5.098 billion KRW.
The average salary of all Samsung Electronics employees stood at 130 million KRW, an 8.3% increase from the previous year’s 120 million KRW. The recovery of the semiconductor division played a key role, with employees in the Device Solutions (DS) division receiving over 14% of their salary as an Over-Profit Incentive (OPI).
On the other hand, the average salary for executives declined by 7.58%, from 726 million KRW in the previous year to 671 million KRW. This decrease is attributed to a policy change requiring more than half of executives' performance-based incentives to be paid as company stock, deferred for at least a year, reducing the immediate cash payout.
In fact, the total OPI payments for executives dropped from 86.2 billion KRW in 2023 to 37.9 billion KRW in 2024.
Meanwhile, Samsung Electronics Chairman Lee Jae-yong has not received a salary since 2017. As of the end of last year, the number of Samsung Electronics employees in South Korea, excluding registered executives, stood at 129,480, marking an increase of 4,676 from the previous year. Notably, the semiconductor division saw an increase of 4,450 employees, reflecting ongoing workforce expansion.
For the first time, the business report also disclosed parental leave data.
A total of 4,892 employees took parental leave last year, an increase from 4,470 in the previous year.
Among them, 1,510 were male employees, marking an all-time high. The parental leave usage rate among male employees also reached a record 13.6%.
Additionally, a total of 31 executives left Samsung Electronics last year.
Notably, 12 of them were from the DS division, which oversees the semiconductor business. Among the departing executives were Lin Jun-cheng, a former vice president from TSMC, and Lee Sung-won, formerly of Qualcomm.
More than half of the resignations came from the System LSI and Foundry Business Divisions, reflecting the challenging business conditions in these areas.
Despite the difficult business environment last year, Samsung Electronics continued hiring and expanding its workforce, while the improvement in semiconductor performance contributed to increased incentive payments for employees.
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