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.
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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.
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