Recently, Seo Kyung-bae, chairman of AMOREPACIFIC Group, saw his total compensation decrease to 3.8 billion won ($2.8 million) in 2024, marking a 2.5% drop from the 3.9 billion won he received in the previous year.
According to business reports from AMOREPACIFIC Group and its subsidiary Amorepacific Corporatio, Chairman Seo was paid 2.856 billion won by Amorepacific and 950 million won by the holding company AMOREPACIFIC Group, bringing his total earnings to 3.8606 billion won.
Breaking down the compensation structure, AMOREPACIFIC Group provided Seo with a salary of 825 million won and a bonus of 125 million won. Meanwhile, Amorepacific paid him 2.539 billion won in salary, 259 million won in bonuses, and 58 million won in other earned income. Additionally, he received 144 shares of common stock from Amorepacific and 3,412 shares from AMOREPACIFIC Group, though these were not included in the total compensation figure.
Regarding the salary, Amorepacific stated that it was calculated based on base pay and management allowances in accordance with executive regulations approved by the board of directors. Bonuses were determined based on organizational performance, management stock compensation, special performance bonuses, and long-term incentives.
