Bang Si Hyuk's compensation revealed for the first half of 2024

Bang Si Hyuk, Chairman of HYBE’s Board of Directors, received a total compensation of 9.8 billion KRW (~7.3 million USD) in the first half of 2024, all in the form of a performance bonus, with no base salary.

According to HYBE’s semi-annual report filed with the Financial Supervisory Service on August 15, Bang Si Hyuk’s base salary was set at 0 KRW, while he was granted a performance bonus of 9.8 billion KRW. HYBE explained that the decision to not provide a base salary was made to emphasize their “Pay for Performance” policy and to reinforce responsible management. The substantial bonus was awarded based on the Compensation Committee’s comprehensive evaluation of his management performance and capabilities in 2023, with approval from the board in 2024.

HYBE noted that the bonus was awarded considering Bang Si Hyuk’s role in successfully advancing the company’s key projects, such as launching new groups and expanding into the global market. His efforts in enhancing HYBE’s brand value and leading the company through dynamic changes and innovations were also highlighted as reasons for the bonus.

HYBE reported its highest-ever quarterly revenue in the second quarter of 2024, posting 640.5 billion KRW (~468.9 million USD) in sales, surpassing the 621 billion KRW (~454.6 million USD) in sale from the same period last year. On a semi-annual basis, HYBE recorded a total revenue of 1.001 trillion KRW (~732.8 million USD), marking the second consecutive year of surpassing 1 trillion KRW in sales in the first half.

However, HYBE has recently been dealing with a series of controversies. Internal conflicts with ADOR’s CEO Min Hee Jin have persisted, and the company has faced backlash due to BTS member SUGA’s DUI scandal. Additionally, Bang Si Hyuk himself has been in the spotlight after being seen in Los Angeles with BJ Juicy Se Yeon, further contributing to the company’s recent struggles.

These challenges have led to a continuous decline in HYBE’s stock price, hitting a 52-week low after four consecutive days of losses. The stock has dropped to the 160,000 KRW range, a level not seen since January 2, 2022.