Kyung Bae Suh Earns 5 Billion Won in First Half Alone from Booming K-Beauty… Dalba CEO Invests in Company Stock
Chairman Kyung Bae Suh Receives 3.5 Billion Won in Bonuses Alone from Amore and Amore Holdings
APR and d'Alba Global Exercise Stock Options as Part of Bonus Pay
[Edaily Reporter KYUNG GYEYOUNG ] As HANKOOKCOSMETICS expands its reach into the U.S. and Europe, the CEOs of companies leading the K-Beauty sector also saw their pockets fill up nicely in the first half of the year.
According to semi-annual reports disclosed on the 14th, Kyung Bae Suh, Chairman of Amorepacific Group, received salaries of 1.312 billion won from AMOREPACIFIC CORPORATION(090430)and 425 million won from AmoreG(002790), respectively. He also received organizational performance bonuses of 2.625 billion won from AMOREPACIFIC CORPORATION and 851 million won from AMOREPACIFIC Holdings.
Lee Seon-ju, CEO (President) of LG H&H(051900)—another long-standing powerhouse in K-Beauty—received 647 million won in salary during the first half of the year. She did not receive any bonuses or other incentives.
At APR(278470), which has emerged as a leading player in K-Beauty, founder and CEO Kim Byung-hoon received a salary of 1.5 billion won. Chief Financial Officer (CFO) and Executive Vice President Shin Jae-ha, and Head of Overseas Business Division and Senior Vice President Lee Min-kyung received 284 million won in salary and 501 million won in bonuses, and 378 million won in salary and 633 million won in bonuses, respectively. In particular, Lee realized a profit of 529 million won by exercising her stock options.
#Ban Seong-yeon, CEO and founder of d'Alba Global, received 279 million won in salary for the first half of the year and an additional 3.046 billion won in bonuses. However, in the spirit of responsible management, she accepted the entire bonus in the form of company stock, further increasing her stake as the largest shareholder.
Amid the success of K-Beauty, two major cosmetics OEM (Original Equipment Manufacturing) and ODM (Original Design Manufacturing) companies— KOLMAR KOREA(161890)and COSMAX, INC.(192820) —also saw an increase in executive performance bonuses. At KOLMAR KOREA, Vice Chairman Yoon Sang-hyun received a salary of 959 million won and a bonus of 2.313 billion won during the first half of the year. This represents nearly a fourfold increase compared to last year’s bonus of 553 million won. COSMAX, INC. Chairman Lee Kyung-soo received a salary of 561.25 million won and a bonus of 61.15 million won.
A Mise-en-Scène advertisement is displayed on an outdoor billboard in New York City. (Photo: AMOREPACIFIC CORPORATION)
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