According to Ten Asia, HYBE's first-half 2024 report submitted to the Financial Supervisory Authority on August 15 showed that the basic salary of Bang Si Hyuk - Chairman of the Board of Directors of HYBE Group - was set at 0 won, while he received a performance bonus of 9.8 billion won (nearly 180 billion VND).
HYBE (managing many famous groups such as BTS, Seventeen, NewJeans, LE SSERAFIM, ILLIT, TXT...) explained that the decision not to provide a base salary was made to emphasize their "Pay for Performance" policy and to reinforce responsible management.
This significant bonus is awarded based on a comprehensive assessment by the Compensation Committee of his performance and management capabilities in 2023, with board approval in 2024.
HYBE noted that the bonus was given in consideration of Bang Si Hyuk's role in successfully promoting the company's important projects, such as launching new groups and expanding into the global market.
His efforts in enhancing HYBE's brand value and leading the company through dynamic changes and innovations were also highlighted as reasons for this bonus.
HYBE reported its highest quarterly revenue ever in the second quarter of 2024, reaching 640.5 billion won in revenue, exceeding the 621 billion won in the same period last year.
In the first half of 2024, HYBE recorded total revenue of 1.001 trillion won, marking the second consecutive year of surpassing 1 trillion won in revenue in the first half.
However, HYBE has recently had to deal with a series of controversies. Internal conflicts with subsidiary ADOR CEO Min Hee Jin continue, and the company has faced backlash over BTS member Suga's drunk driving scandal.
Additionally, Bang Si Hyuk himself became the center of attention after being seen in Los Angeles with female BJ Juicy Se Yeon, adding to the company's recent struggles.
These challenges have led to a continuous decline in HYBE's stock price, hitting a 52-week low after four consecutive days of losses. The stock has fallen to 160,000 won, a level not seen since January 2, 2022.
Source: https://laodong.vn/giai-tri/muc-luong-khung-cua-chu-cich-hybe-bang-si-hyuk-1380676.ldo
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