Samsung Electronics’ mobile head paycheck hits $5.8 million, beating Apple’s Cook; Samsung didn’t disclose remuneration details of J.Y. Lee; pay details hidden by non-executive titles

April 14, 2014 Leave a comment

Samsung Electronics’ mobile head paycheck hits $5.8 million, beating Apple’s Cook

8:16pm EDT

Seoul (Reuters) – The head of Samsung Electronics Co’s mobile business, J.K. Shin, received a $5.8 million compensation package last year, beating the paycheck of his counterpart at U.S. rival Apple Inc, the South Korean firm said on Monday in its first such disclosure under new regulations.

The world’s biggest technology company by revenue said Shin’s pack included a base salary of 1.17 billion won ($1.09 million) and 1.6 billion won in incentives and performance bonus.

By comparison, Apple chief executive Tim Cook received $4.25 million in 2013, little changed from the previous year when he had been paid $4.17 million. Cook, however, had a separate pay related to annual stock grants, while Shin did not have stock options.

Shin, who has led Samsung’s mobile business since 2009, has since overseen the launch of its flagship Galaxy handsets that helped it unseat Apple in the smartphone market and also sparked patent litigation the world over that claimed Samsung copied the look and feel of the U.S. firm’s iconic mobile products.

Samsung’s other co-chief executive Kwon Oh-hyun, who leads the component business, earned 6.77 billion won, while third co-CEO Yoon Boo-keun, the head of its consumer electronics business, received 5.09 billion won.

South Korean financial authorities changed regulations late last year, requiring listed companies to include annual compensation details of executives who earn more than 500 million won in their business reports filings.

But the measure also drew some criticism as it does not shed much light on pay details of some high profile owners of business conglomerates or chaebols, as they frequently assume non-executive titles.

Samsung didn’t disclose remuneration details of J.Y. Lee, non-executive vice chairman and son of its chairman Lee Kun-hee, who is also non-executive chairman and receives no salary from Samsung.

 

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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