According to Ten Asia, HYBE's first half of 2024 report submitted to the Financial Supervisory Authority on August 15 shows that the basic salary of Bang Si Hyuk - Chairman of the Board of Directors of HYBE Group - is set at 0 won, while he received a performance bonus of 9.8 billion won (nearly 180 billion VND).
HYBE (manager of many famous music groups such as BTS, Seventeen, NewJeans, LE SSERAFIM, ILLIT, TXT...) explained that the decision not to provide a basic salary was made to emphasize the policy of "Pay according to salary". performance" and to reinforce responsible management.
This significant bonus is awarded based on the Compensation Committee's comprehensive review of his performance and management capabilities in 2023, with board approval in 2024.
HYBE noted that this bonus was given in consideration of Bang Si Hyuk's role in successfully promoting the company's important projects, such as launching new groups and expanding to the global market. bridge.
His efforts in enhancing HYBE's brand value and leading the company through dynamic changes and innovations were also highlighted as reasons for this bonus.
HYBE reported its highest ever quarterly revenue in the second quarter of 2024, reaching 640.5 billion won in revenue, exceeding the 621 billion won of the same period last year.
For the first half of 2024, HYBE recorded total revenue of 1.001 trillion won, marking the second consecutive year exceeding 1 trillion won in revenue in the first half of the year.
However, HYBE has recently had to deal with a series of controversies. Internal conflicts with subsidiary ADOR's CEO Min Hee Jin continue, and the company has faced backlash due to BTS member Suga 's drunk driving scandal .
In addition, Bang Si Hyuk himself also became the center of attention after being seen in Los Angeles with female BJ Juicy Se Yeon, further contributing to the company's recent difficulties.
These challenges have resulted in the HYBE stock price continuously falling, hitting a 52-week low after four consecutive days of losses. The stock fell to 160,000 won, a level not seen since January 2, 2022.
