Hyosung Chairman Cho Hyun-joon Receives 6.625 Billion Won in Compensation for First Half of the Year

Hyosung Group Chairman Cho Hyun-joon received a total of 6.625 billion won in compensation from Hyosung Corporation, Hyosung Heavy Industries, and Hyosung TNC in the first half of this year. According to the semi-annual report disclosed on the 13th, Chairman Cho received 3.5 billion won from Hyosung Corporation, 2 billion won from Hyosung Heavy Industries, and 1.125 billion won from Hyosung TNC. The 3.5 billion won received from Hyosung Corporation accounts for more than half of the total compensation. The compensation of other executives at Hyosung Group was also disclosed, with Vice Chairman Lee Sang-woon receiving 1.010 billion won from Hyosung Corporation. This disclosure is part of the procedure for listed companies to reveal individual executive compensation details through semi-annual reports, and the Financial Supervisory Service announced that it will strengthen the disclosure of executive compensation and performance indicators starting in May this year. The compensation disclosure is a mechanism to inform investors of the payment details of registered executives who received compensation above a certain threshold, including the scale of compensation, the paying company, salary, bonuses, etc. Hyosung also announced improvements in the performance of its major subsidiaries for the second quarter of this year, with Hyosung Corporation reporting consolidated second-quarter sales of 733.6 billion won and operating profit of 231.6 billion won as of July 31. This compensation disclosure serves as a document showing the actual amount received by Chairman Cho in the first half of the year, and the impact of the compensation level on the future performance of affiliates or stock prices has not been confirmed in separate materials.

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