Yuanta Securities Sees Record Earnings as Retail Executive Takes Home $22.7 Million

Yuanta Securities has seen an unprecedented 'salary king' emerge amid a booming stock market, with retail executive Lee Jong-seok receiving 22.7 billion won in the first half of the year. This amount is nearly 25 times that of company president Luo Zhipeng, who earned 929 million won.

Lee had also been the company's top earner in the latter half of last year, receiving 7.4 billion won, with 7.4 billion won of that amount coming from bonuses. The company explained that performance bonuses were determined based on individual contract terms for contract workers in the retail business division who were responsible for investment.

The compensation for retail employees is soaring as customer assets increase due to market movements. The top five highest earners at Yuanta Securities in the first half of the year were all from the retail division. Park Hwan-jin, another retail executive, received 5.9 billion won, followed by Park Jong-min (4.7 billion won), Jeong Woo-seok (3.7 billion won), and Yoon Eun-young (2.8 billion won).

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The company explained that performance bonuses were determined based on individual contract terms for contract workers in the retail business division who were responsible for investment.