Salary for Korean banking group CEOs too high compared to profits
The World Bank
Seoul - Yonhap
Despite lower profits than their overseas peers, South Korea's leading banking groups are paying their CEOs a much better salary, data showed Sunday.
The average annual pay last year for the country's top three banking groups reached an estimated 2.7 billion won (US$2.6 million), according to data compiled from multiple financial institutions at home and abroad. By comparison, three top Japanese banking groups paid their CEOs an average 1.25 billion won, based on won-yen exchange rate at the end of 2013 of 1,005 won per 100 Japanese yen.
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