Seoul - Yonhap
Financial authorities said Thursday they will intervene to prevent top financial company executives from walking away with retirement payments way out of proportion, a measure that follows public outrage against astronomical wages and compensation packages that went to corporate leaders last year. Records showed that Park Jong-won, former president of Korean Reinsurance Co., received 15.9 billion won (US$15 million) in retirement benefits, which is 245.5 times an average annual salary of company employee.