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SK's Chey Tae-won may have spent nearly all of last year in prison for embezzlement, but
that didn't stop his fellow company directors from making him the best-paid Korean executive
of 2013. Chey took home 45-point-1 billion won, roughly
42-and-a-half million U.S. dollars last year. The salary details emerged on Monday as Korea's
biggest companies for the first time ever made public the pay packages of some of their
leading executives as required by legislation introduced last year.
So, what should we make of the change? Let's bring in Dr. Kim Byoung-joo, the head
of KL&P Consulting and our regular commentator on the program.
So, Dr. Kim... the pay packages disclosed yesterday - how do they compare globally?
Skyrocketing executive pay have been a big issue in the U.S. and around the world, we know. What have been some of
the efforts made so far to slow the trend?
With the disclosed information yesterday, what is the general direction of the debate
we see here in Korea so far?
What do we see ahead for those whose earnings were not disclosed?
Well, the publication of the figures marks a step forward for this country's notoriously
erratic standards of corporate governance. But, of course, like many other things that
are in the beginning stage... there are loopholes to be closed and improvements to be made.
Dr. Kim Byoung-joo, great talk today. Thank you.