CEO Taekjin Kim, Mobile Business Performance
NC key executives also received 4 billion units
Naver CEO Han Sung-suk is 3.45 billion
Naver also surpasses the average annual salary of 100 million
Side by side, becoming the’God’s Workplace’
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Taekjin Kim NCsoft (036570)(NC) CEO received 18.4 billion won last year and became the’salary king’ in the IT industry. Naver founder Lee Hae-jin and Global Investment Officer (GIO) received 1.97 billion won, and Naver CEO Han Sung-sook received 3.45 billion won. In addition, the overall annual salary of executives and employees has also increased, and for the first time in both companies, the average employee salary has exceeded 100 million won.
According to an electronic disclosure from the Financial Supervisory Service on the 16th, CEO Kim received a salary of 21.16 billion won and a bonus of 16.27 billion won last year, receiving a total annual salary of 18.41 billion won. Regarding CEO Kim’s annual salary, NC explained, “We considered the achievements of successive success in mobile business such as Lineage M·2M and the achievement of 2019 financial goals.” CEO Kim has been receiving the highest annual salary in the IT industry every year, but last year’s receipt was the largest ever. CEO Kim received a total of 13.8 billion won and 9.45 billion won in 2019 due to the launch of Lineage M in 2018.
Major NCsoft executives also received billions of won in annual salary. Center head Lee Seong-gu received 4.9 billion won, chief financial officer Yoon Jae-soo (CFO and vice president) received 4.46 billion won, and senior vice president Kim Taek-heon, CEO Kim’s younger brother, received 4.13 billion won, making it on the list of high-paid executives. Lineage M, which was released in 2018, was a long-term box office, and Lineage 2M, the sequel, occupied the first or second place in mobile game sales along with Lineage M.
Naver, the number one IT company in Korea, also disclosed employee salaries through the disclosure on the same day. The person who received the most salary in Naver was the CEO, not the founder of GIO. Representative Han received 3.45 billion won. The company said, “As the CEO of Naver, it is paid in consideration of the fact that it has successfully led the company’s major service changes, such as the phased conversion of Naver App and smart store rebranding, and established a virtuous cycle structure of UGC and video services through reinforced creator compensation I did,” he explained. In addition, Chae Sun-joo, Chief Communication Officer (CCO), received 2.66 billion won, Naver Financial CEO Choi In-hyuk received 2.46 billion won, and Park Sang-jin, Chief Financial Officer (CFO), received 2.21 billion won.
Naver and NCsoft also surpassed 100 million won in average annual salaries for the first time since their inception. Both companies recorded all-time highs last year. NCsoft’s 4,224 employees received an average annual salary of 15.5 million won, an average increase of 22% from 8641 million won last year. NCsoft raised the annual salary for development workers by 13 million won this year, and paid a special CEO incentive of 8 million won to all employees earlier this year.
Naver also saw an average annual salary of 3,987 employees of 3,987 won last year, up 3% from 9,945 million won last year. Despite the high salary, Naver pays low incentives, which is causing conflict between labor and management. As Naver plans to hold a board of directors after the shareholders’ meeting on the 24th to discuss the issue of compensation for employees, it is predicted that the salaries of employees will increase this year.
/ Reporter Yoon Min-hyuk [email protected]
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