Arab Today, arab today regulator to restrict retirement payments to financial executives in seoul
Last Updated : GMT 08:44:49
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Regulator to restrict retirement payments to financial executives in Seoul

Arab Today, arab today

Arab Today, arab today Regulator to restrict retirement payments to financial executives in Seoul

Seoul - Yonhap

Financial authorities said Thursday they will intervene to prevent top financial company executives from walking away with retirement payments way out of proportion, a measure that follows public outrage against astronomical wages and compensation packages that went to corporate leaders last year. Records showed that Park Jong-won, former president of Korean Reinsurance Co., received 15.9 billion won (US$15 million) in retirement benefits, which is 245.5 times an average annual salary of company employee.

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