The Financial Times reported Samsung executives earn much more than their counterparts and main rival Apple Inc.
In particular, Kwon Oh-Hyun, who leads the component business of Samsung Electronics Co. Ltd., was paid 6.8 billion won ($6.4 million) last year. Head of Samsung Electronics Co's mobile business, Shin Jong-kyun received a 6.2 billion won compensation package last year, while third co-CEO Yoon Boo-keun, the head of its consumer electronics business, received 5.09 billion won. By comparison, Apple chief executive Tim Cook received $4.25 million in 2013. At the same time, none of the mentioned amounts can beat the paycheck received by Cook in 2011. The shareholders awarded the U.S. tech giant’s CEO deferred shares worth $378 million. Importantly, it was the first time Samsung included annual compensation details of their top managers in their business reports filings. The South Korean financial authorities imposed such a provision in late 2013. Previously, corporations in South Korea were allowed to publish only the overall amount paid to members of an executive board.
Samsung and Apple have been the archrivals on the smartphone market. In 2013, the South Korean chaebol sold 319 million smartphones thus reinforcing its leadership. Meanwhile, Apple is ranked second with its sales of 153 million iPhones. Almost half of the global market is controlled by these two tech giants.
