113

34

News

Bang Si Hyuk agrees to receive 1 KRW (less than a penny) as his salary from HYBE

AKP STAFF
Posted by Sophie-Ha Friday, March 8, 2024

HYBE's chairman, Bang Si Hyuk, has agreed to receive 1 KRW (.00076 USD) as his salary for 2024.

HYBE stated through its '2024 Internal Director Compensation Plan' on March 8, that "The company had determined the base salary as 1 KRW for the chairman to implement the 'Pay for Performance' compensation philosophy to strengthen the responsibility of the managing executive."

However, Bang Si Hyuk will also receive a performance bonus of 980 million KRW (~743,469 USD) according to the short-term incentive system. This was determined by the compensation committee based on the management performance and evaluation criteria for 2023.

Last year, Chairman Bang received a total compensation of 357 million KRW (~270,840 USD), including a salary of 50 million KRW (~37,931 USD), a bonus of 300 million KRW (~227,597 USD), and other employment income of 7 million KRW (~5,311 USD).

HYBE's CEO, Park Ji Won, received a compensation of 1.52 billion KRW (~1.15 million USD) last year, and this year's compensation has been decided as 2 billion KRW (~1.52 million USD).

According to Forbes, Bang Si Hyuk has a current net worth of 1.8 Billion USD.

  1. Bang Si Hyuk
28 19,275 Share 77% Upvoted
 
Poppfresh
Poppfresh624 pts Friday, March 8, 2024 7
Friday, March 8, 2024

Don’t be misled by the 1 cent salary a lot of CEOs do this to make themselves look good. He gets paid in stocks or some other kind of compensation which is worth 10x more than his current salary.

44 (+52 / -8)
Share

7 more replies

 
xTESSAx
xTESSAx701 pts Friday, March 8, 2024 0
Friday, March 8, 2024

"Bang Si Hyuk has a current net worth of 1.8 Billion USD." that less than penny doesn't mean anything. he can basically do it free and it wouldn't hurt him

28 (+30 / -2)
Share

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Kim Soo Hyun
Sulli, Kim Sae Ron, Kim Soo Hyun
Younha
Kim Sae Ron, Kim Soo Hyun
f(x), Sulli, Kim Sae Ron, Kim Soo Hyun
DAY6
Kim Soo Hyun
Sulli, Kim Sae Ron, Kim Soo Hyun
DAY6
Kim Sung Cheol
Wooyoung
aespa, BLACKPINK, Jennie
Younha
Kim Sung Cheol
DAY6
New Message

SEND