The number of outside directors earning billions of dollars per year has increased over the past two years.  KT was also a company with an increase in average remuneration for outside directors.  The picture is KT's general shareholders' meeting.  (provided by KT)
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The number of ‘billion sound’ has increased in two years as outside directors

The number of outside directors earning billions of dollars per year has increased over the past two years. KT was also a company with an increase in average remuneration for outside directors. The picture is KT’s general shareholders’ meeting. (provided by KT)

Last year, there were 10 large corporations that paid billions of won to outside directors. In 2019 alone, NCsoft, Samsung Electronics, and Samsung C&T were the only companies that provided billions of won in remuneration to outside directors. In two years, there were seven more.

According to the Korea CXO Research Institute, a company specializing in corporate analysis, the average remuneration of outside directors of 300 listed companies was 54.1 million won. This is an increase of more than 10% compared to 2019 (48.8 million won). The number of outside directors receiving billions of won in compensation increased from 16 in 2019 to 55 in 2021. In 2019, the annual salary of outside directors was close to 200 million won, but it fell to 80 million won last year. On the other hand, Naver, Hyundai Mobis, KT, and Hyundai Motor Company’s average remuneration for outside directors rose to 100 million won.

[반진욱 기자]


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Reference-www.mk.co.kr

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