March 12, 2018 13:18
Foreign executives at ailing GM Korea were handed W25 billion in stock options even though the automaker suffered W3 trillion in losses over the last four years, according to industry sources on Sunday (US$1=W1,071).
he U.S. headquarters has given W6-9 billion worth of stock options to executives dispatched to the Korean subsidiary each year.
In 2014, when GM Korea posted a net loss of W353.4 billion, the U.S. automaker still rewarded executives here with W6.9 billion in stock options, and in 2015, when the Korean unit suffered a W986.8 billion net loss, the firm cushioned the pain of the bigwigs in charge with W9.43 billion in stock options.
"High-ranking executives get stock options based on the performance of headquarters even though the Korean unit posts losses," a staffer said.
- Copyright © Chosunilbo & Chosun.com