LG Chairman Koo Kwang-mo, last year’s annual salary of 8 billion won 48% increase

Input 2021.02.23 15:43 | Revision 2021.02.23 15:47

Vice-Chairman Kwon Young-soo won 3,135 million won, and CEO Ha Bum-jong won 712 million won.

LG Group Chairman Koo Kwang-mo received 8 billion won in annual salary last year. Salary was not significantly different from a year ago, but the total annual salary increased by 48% as bonuses increased.

According to the electronic engineering system of the Financial Supervisory Service on the 23rd, Chairman Koo received a total of 8 billion won in salary last year from LG Co., Ltd., who is in charge of the CEO, plus 3.66 billion won in salary and 3.64 billion won in bonuses. In 2019, he received a total of 5,396 billion won, including a salary of 4.33 billion won and a bonus of 1.06 billion won.

LG said, “The increase in bonuses last year has increased due to the base effect of the 2019 bonus also decreasing as Chairman Koo, who took office in June 2018, received only six months’ salary in 2018.

In addition to his salary, Koo is expected to receive dividends this year. Chairman Koo, the largest shareholder of LG Corp., owns 15.95% (2753,771 shares). LG Corp. held a board meeting earlier this month and decided to pay 2,500 won per common stock in cash. It increased 300 won from 2,200 won per share in 2019, a year ago.

If the financial statements are approved at the regular shareholders’ meeting next month, Chairman Koo will receive about 68.8 billion won in dividends in April. In this case, Chairman Koo’s dividend will increase by 20.9% from 56.9 billion won in 2019. In the business world, it is highly likely that Chairman Koo will use the increased salary and dividends as a source of inheritance tax.

LG Corp. Vice Chairman Kwon Young-soo received a total of 3,135 million won in salary and bonuses last year, and CEO Ha Bum-jong received 721 million won.