On March 8, HYBE announced its ‘2024 Internal Director Compensation Plan’, revealing that Chairman Bang Si Hyuk will receive a nominal base salary of 1 KRW for the year. This decision aligns with HYBE’s strategy to implement a ‘Pay for Performance’ compensation philosophy, emphasizing executive responsibility.
Despite the symbolic base salary, Bang Si Hyuk is set to receive a substantial performance bonus totalling 980 million KRW (~743,469 USD). The bonus was determined by HYBE’s compensation committee, assessing the chairman’s management performance throughout 2023.
Bang Si Hyuk, chairman of HYBE, agrees to the nominal salary of 1 KRW (~0.00076 USD) for 2024.
In contrast, Bang Si Hyuk’s total compensation for the previous year amounted to 357 million KRW (~270,840 USD), comprising a salary of 50 million KRW (~37,931 USD), a bonus of 300 million KRW (~227,597 USD), and additional employment income of 7 million KRW (~5,311 USD).
Meanwhile, HYBE’s CEO, Park Ji Won, received 1.52 billion KRW (~1.15 million USD) in compensation last year, with this year’s amount set at 2 billion KRW (~1.52 million USD).
With a current net worth estimated at 1.8 billion USD by Forbes, Bang Si Hyuk continues to play a pivotal role in HYBE’s executive leadership amidst strategic compensation adjustments.
