Samsung Electronics on Friday announced for the first time the remuneration paid to Vice President Jay Y. Lee, Samsung Group's third-generation leader, for the amount of up to 1.135 trillion won (1.02 trillion won). Million USD) in the fourth quarter of 2016.
The disclosure of this fee is due to the legal process required in the course of the case. This amount only relates to the payments Lee received since being appointed to the Board of Directors, and Samsung declined to comment on the amount Lee paid before his appointment - including his appointment. Have earned more or less in the previous quarters, compared with information about the fourth quarter has just been revealed.
Details of the remuneration are disclosed but we only know part of the remuneration of the 48-year-old leader including 476 million won in salary equivalent to 3 months salary from October to December. Samsung told Reutersnews agency that Lee chose not to receive any money from Samsung Electronics after the arrest on February 17.
Korean companies must disclose the remuneration of executive directors who are members of the board and are paid at least 500 million won per year. CEO Kwon Oh-hyun is the highest earner, with a total compensation of 6,698 billion won. For comparison, Apple Inc.'s $ 20.7 million remuneration for Tim Cook in 2016.
The remuneration has just been revealed to be a very small part of Lee's net worth. According to Forbes magazine , Lee is the third richest person in South Korea with total assets of $ 6.4 billion, mainly based on his holdings in Samsung affiliates such as Samsung C & T Corp and Samsung Electronics. President Shin Jong-kyun, who heads Samsung's mobile and networking business, received a 2016 remuneration slip of 3,986 billion won compared with 4.8 billion won a year earlier. Enterprises under his supervision have been severely damaged since the explosion of the Galaxy Note 7 smartphone, which began shipping in October last year.
According to the British news agency Reuters , Lee is being tried on charges of bribery, embezzlement and some other accused in a corruption scandal led to the arrest of President Park Geun-hye. He became a member of the Samsung board last October, as part of an extensive initiative to improve the corporate governance process for the Samsung empire, which runs from smartphones to smartphones. The biopsy, and his salary was announced along with the other members.
Details of the remuneration are disclosed but we only know part of the remuneration of the 48-year-old leader including 476 million won in salary equivalent to 3 months salary from October to December. Samsung told Reutersnews agency that Lee chose not to receive any money from Samsung Electronics after the arrest on February 17.
Korean companies must disclose the remuneration of executive directors who are members of the board and are paid at least 500 million won per year. CEO Kwon Oh-hyun is the highest earner, with a total compensation of 6,698 billion won. For comparison, Apple Inc.'s $ 20.7 million remuneration for Tim Cook in 2016.
The remuneration has just been revealed to be a very small part of Lee's net worth. According to Forbes magazine , Lee is the third richest person in South Korea with total assets of $ 6.4 billion, mainly based on his holdings in Samsung affiliates such as Samsung C & T Corp and Samsung Electronics. President Shin Jong-kyun, who heads Samsung's mobile and networking business, received a 2016 remuneration slip of 3,986 billion won compared with 4.8 billion won a year earlier. Enterprises under his supervision have been severely damaged since the explosion of the Galaxy Note 7 smartphone, which began shipping in October last year.
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