Cho Won-tae, CEO of Korean Air and chairman of Hanjin Group (photo=Korean Air)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanjin Group Chairman Cho Won-tae received KRW 8.157 billion in remuneration last year.

According to a business report by Korean Air and Hanjin Kal on the 14th, Chairman Cho received 3.91715 billion won from Korean Air and 4.2398 billion won from Hanjin Kal last year.

Compared to the previous year, Korean Air received 64% and Hanjin Kal received 51.6%, respectively.

Korean Air explained, "Last year's increase in remuneration has the aspect of a one-time increase due to the adjustment of executive remuneration, which had been frozen for a long time in 2022, and the payment of management performance-based bonuses."

Korean Air returned some of its executive pay from April 2020 to 2022, right after the COVID-19 pandemic, but has been paying it normally since last year.

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