Tourism Agency CEO Raises Pay as New Hires’ Salaries Stall
Creatrip Team
21 days ago
South Korea’s Korea Tourism Organization (KTO) has raised its CEO salary again after a leadership change: the newly appointed CEO Park Seong-hyuk’s contract pay is 136.26 million won, about 10.24 million won more than his predecessor. Historically, the CEO’s pay has risen each time a new chief took office. By contrast, regular new recruits’ starting salary (annual) remained largely frozen for three years, moving from 36.36 million won in 2022 to 36.72 million in 2023 and only recently nudged to 37.82 million won this year — an increase far smaller than recent minimum-wage growth. That widening gap means the CEO now earns roughly 100 million won more than a new hire. Lawmaker Cho Eun-hee criticized the disparity and urged a fairer pay system that improves treatment for young employees. KTO said executive pay follows government guidelines and is approved by shareholders, while staff pay follows internal salary tables.
