First-half compensation for the chief executive officers of LG Display and LG Innotek rose sharply in tandem this year, as both companies factored last year’s return to profitability and other management achievements into bonus payouts.<\/p>\n
According to semi-annual reports filed by each company on August 14, LG Display CEO and President Jeong Cheol-dong received total compensation of 1.457 billion won (approximately $1.03 million) in the first half of this year. The figure comprises 727 million won in base salary, 726 million won in bonuses, and 4 million won in other earned income. Compared with 720 million won during the same period last year, his pay increased by 737 million won, or 102.4%.<\/p>\n
The more-than-doubling of his compensation was largely driven by a 726 million won bonus paid this year after no bonus was awarded last year. Despite an uncertain business environment marked by weakening demand in the IT and TV markets, LG Display restructured its business around OLED and posted revenue of 25.81 trillion won (approximately $18.3 billion) and operating profit of 517 billion won (approximately $365.8 million) last year \u2014 its first annual profit in four years. Cost innovation, strengthened OLED business competitiveness, and preparation of future technologies were also reflected in the bonus calculation.<\/p>\n
LG Innotek CEO and President Moon Hyuk-soo received 1.297 billion won (approximately $918,000) in the first half. The total includes 726 million won in salary, 562 million won in bonuses, and 9 million won in other income \u2014 up 469 million won, or 56.6%, from 828 million won a year earlier.<\/p>\n
LG Innotek factored last year’s revenue of 21.9 trillion won (approximately $15.5 billion), strengthened optical solutions business capabilities, accelerated development of its semiconductor substrate business, and enhanced competitiveness in automotive components into Moon’s bonus determination.<\/p>\n
Notably, LG Innotek generated 8.84 trillion won (approximately $6.3 billion) in first-half revenue from a single customer believed to be Apple, its largest client. The top 10 customers accounted for 86% of total revenue.<\/p>\n
First-Half CEO Compensation Comparison<\/p>\n
CategoryJeong Cheol-dong (LG Display)Moon Hyuk-soo (LG Innotek)Base salary727 million won726 million wonBonus726 million won562 million wonOther income4 million won9 million wonTotal1.457 billion won1.297 billion wonYoY increase102.4%56.6%<\/p>\n
The two CEOs’ base salaries are virtually identical, with the gap coming from bonuses. Jeong’s first-half salary of 727 million won differs from Moon’s 726 million won by just 1 million won. However, Jeong’s bonus of 726 million won exceeded Moon’s 562 million won by 164 million won.<\/p>\n
Average Employee Pay Also Rises, but Headcount Shrinks<\/p>\n
Average employee salaries also climbed. LG Display employees earned an average of 52 million won (approximately $36,800) in the first half, up 7 million won from 45 million won a year earlier. LG Innotek’s average rose by 6 million won, from 48 million won to 54 million won (approximately $38,200).<\/p>\n
Headcount, however, declined. LG Display’s total workforce stood at 23,490 in the first half, down 1,567 from 25,057 a year earlier \u2014 a reduction attributed to voluntary retirement programs and other workforce adjustments.<\/p>\n
LG Display’s research and development spending totaled 1.17 trillion won (approximately $831.1 million) in the first half. The average selling price of display panels in the second quarter was $1,079 per square meter (approximately 1.5 million won), down 13% from the previous quarter, as mobile panels \u2014 which command relatively higher per-area prices \u2014 entered a seasonal off-peak period.<\/p>\n
LG Display and LG Innotek are both core component affiliates of LG Group and hold important positions within Apple’s supply chain. LG Display supplies OLED panels for iPhones, while LG Innotek provides camera modules and semiconductor substrates. The performance of both companies is closely tied to Apple’s new product launch cycles.<\/p>\n","protected":false},"excerpt":{"rendered":"First-half compensation for the chief executive officers of LG Display and LG Innotek rose sharply in tandem this…\n","protected":false},"author":2,"featured_media":119691,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[3628,49524,315,2482,314,9450,52650,359],"class_list":["post-119690","post","type-post","status-publish","format-standard","has-post-thumbnail","category-lg","tag-apple","tag-jeong-cheol-dong","tag-lg","tag-lg-display","tag-lg-group","tag-lg-innotek","tag-moon-hyuk-soo","tag-oled"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/119690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=119690"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/119690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/119691"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=119690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=119690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=119690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}