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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Kim Yoo-seok, Vice President in charge of Delivery Camp Management at Coupang and younger brother of Coupang Inc. Chairman Kim Beom-seok, has reportedly received a total of approximately ₩14 billion (about $14 million) in salary and incentives over the past four years.
According to industry sources on the 28th, Kim received a total cash compensation of $1,526,979 (approximately ₩2.2 billion) from 2021 to 2024, broken down as follows:
2021: $323,000 (₩467.4 million)
2022: $333,979 (₩482.6 million)
2023: $440,000 (₩635.8 million)
2024: $430,000 (₩621.4 million)
In addition, he received restricted stock units (RSUs) as conditional equity compensation:
2021: 16,600 RSUs
2022: 204,278 RSUs
2023: 43,052 RSUs
2024: 74,401 RSUs
RSUs are subject to vesting periods, meaning they convert into actual shares only after a specified period of employment. Based on current stock prices, the total value of Kim’s RSUs amounts to approximately ₩11.87 billion.
Vesting periods for RSUs awarded in 2021 and 2023 have already ended or are set to end this year, allowing Kim to convert them into personal shares and realize gains through trading. RSUs granted in 2022 and 2024 are scheduled to vest next year.
Chairman Kim Beom-seok received $2,071,000 (approximately ₩3 billion) in salary last year without any bonus or stock compensation.
Coupang clarified in filings with the U.S. Securities and Exchange Commission that Kim Yoo-seok is not part of the executive management team and participates in the company’s compensation and incentive programs on the same terms as other employees at the same level.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
