Samsung’s head of mobile business, J.K. Shin, earns more than Tim Cook, according to a new report.
In 2014, Shin received $5.8 million compensation– made up of a base salary of 1.17 billion won, and 1.6 billion won in incentives and performance bonus. By comparison, Tim Cook took home $4.25 million — only slightly more than the $4.17 he earned in 2012.
Samsung didn’t disclose remuneration details of J.Y. Lee, its non-executive vice chairman and son of chairman Lee Kun-hee, who receives no salary from Samsung. It did, however, reveal that co-chief executive Kwon Oh-hyun — who heads up the component business — earned 6.77 billion won, while third co-CEO Yoon Boo-keun — head of Samsung’s consumer electronics business — received 5.09 billion won. ($1 = 1069.3000 Korean Won)
The information comes about as a result of regulations changed by the South Korean financial authorities, which requires listed companies to release the annual compensation details of executives who earn more than 500 million won. However, the move has been criticized by some since it does not reveal details of high profile owners of business conglomerates, who regularly assume non-executive titles.
Source: Reuters
