According to Hyundai Motor’s annual business report filed on Tuesday, Chung received 9.001 billion won from Hyundai Motor, including 4.5 billion won in salary and 4.501 billion won in bonuses and other income. That was up 1.914 billion won, or 27.0%, from 7.087 billion won a year earlier.
Chung also received 5.4 billion won from affiliate Kia and 3.06 billion won from Hyundai Mobis. It was the first time he received compensation from Kia, the filing said.
With Kia’s pay included, Chung’s total rose 5.943 billion won, or 51.6%, from 11.518 billion won the previous year.
Hyundai Motor said the compensation reflected its executive pay table and factors including duties and rank, tenure, leadership, expertise and contribution to the company.
Hyundai Motor Vice Chairman Jang Jaehoon received 5.416 billion won in total compensation last year, up 59.3% from the year before.
Jose Munoz, who has served as Hyundai Motor’s first foreign CEO since last year, received 9.729 billion won, up 242.7% from 2.839 billion won in 2024. Based on Hyundai Motor compensation alone, Munoz received more than Chung.
* This article has been translated by AI.
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