Two retired production workers at S-Oil receive more salary than the CEO

Two production workers who retired from S-Oil last year were found to be paid more than the CEO.

S-Oil CI. /Provided by S-Oil

According to the Electronic Disclosure System of the Financial Supervision Service (DART) on the 20th, former production workers of S-Oil (1.295 billion won) and B (1.14 billion) received over 1 billion won in compensation last year.

Based on the amount of remuneration paid, the former head of division A was second only to former senior vice president Cho Young-il (he earned 3.01 billion), who received the highest salary in S-Oil last year. The former head of B division came fourth, followed by former executive director Shin Hyuk (1.145 billion won) in third.

When former bosses A and B retired in December last year, they received 1.1 billion won and 937 million won, respectively, in the name of regular severance pay and severance pay. The two people who worked at the Yeongcheon Oil Reserve operated by S-Oil received additional severance pay when the oil storage was transferred to build the pipeline.

Former senior vice president Cho and former managing director Shin’s pay included severance pay of 2.238 billion won and 954 million won, respectively. In the case of CEO Hussain Al-Qahtani, who was in fifth place in terms of remuneration, he received a total of 1.014 billion won in salary, bonuses, and other earned income.


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