Unpaid Compensation of 20.2 Billion Won, Review of Financial Holding Chairpersons' Salaries

The stock-linked compensation that has been granted but not paid to major financial holding chairpersons has been estimated at up to 20.2 billion won. The unpaid stock compensation for Kim Ki-hong, the chairman of JB Financial, amounts to 759,955 shares, which, based on the closing price of 26,600 won on the 21st, is approximately 20.2 billion won. Yang Jong-hee, the chairman of KB Financial, has unpaid stock-linked cash compensation of 60,056 shares, which is about 9.867 billion won based on the closing price of 164,300 won on the 21st. This compensation is separate from the 650 million won that Chairman Yang reported as salary and cash bonuses for the first half of this year and may be paid starting next year. KB Financial pays part of its short-term performance bonuses in cash and distributes the remainder in restricted stocks over three years. Long-term performance bonuses are determined based on performance. JB Financial has a similar structure, and unpaid compensation varies according to stock prices and evaluation results. Shinhan Financial, Hana Financial, and Woori Financial have also confirmed unpaid long-term performance bonuses amounting to tens of billions of won. Shinhan Financial's unpaid long-term performance bonus is 74,134 shares, which is approximately 7.71 billion won based on the closing price of 104,100 won on the 21st. Hana Financial has 59,400 shares of unpaid performance-linked stocks, while Woori Financial has 193,144 shares, corresponding to 7.65 billion won and 6.13 billion won, respectively. The Financial Supervisory Service has mandated that the amounts of stock-based compensation paid and the cash equivalent of unrealized stock-based compensation be disclosed separately in semi-annual reports.

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