HYBE Chairperson Bang Si Hyuk To Receive Less Than A Dollar For His 2024 Salary
According to recent reports, HYBE founder and chairman Bang Si Hyuk will be receiving only 1 [/krw] as his salary this year.
HYBE made the announcement through their “2024 Internal Director Compensation Plan” on March 8, KST. This plan determined the base salary of the chairman at 1 as a part of the “Pay for Performance” compensation philosophy. This policy is aimed to strengthen the responsibility of the management.
Obviously, the 1 [/krw] figure is only symbolic. In reality, Bang’s income from HYBE this year will be significantly high. He is set to receive around ₩9.80 billion KRW (about $7.26 million USD) as a performance bonus according to the short-term incentive system. This number was decided by the compensation committee within HYBE last year based on management performance and evaluation indicators.
Last year, Bang received a total compensation of ₩357 million KRW (about $264,000 USD), along with a salary of ₩50.0 million KRW (about $38,000 USD), a bonus of ₩300 million KRW (about $228,000 USD), and income from other employment channels worth of ₩7.00 million KRW (about $5,320 USD).
This year, given that Bang’s projects as the executive producer of LE SSERAFIM, have seen commercial success, his income can be expected to rise. He will also be in charge of producing I’LL-IT, the upcoming HYBE girl group.
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