South Korea’s dividend payouts rise, Samsung chairman takes top spot with $240 m

Samsung Electronics Chairman Lee Jae-yong arrives at Seoul Gimpo Business Aviation Center on Jul 14 last year after attending the wedding of Mukesh Ambani’s youngest son. Ambani, chairman of India’s Reliance Group, is Asia’s richest man. /News1

Lee Jae-yong, chairman of Samsung Electronics, received the largest dividend payout in South Korea last year, corporate data showed.

On Feb. 18, South Korean corporate research firm Leaders Index reported that as of Feb. 14, 560 domestic companies had distributed a total of 40.7 trillion won ($28.2 billion) in dividends in 2024. This marked a 10.4% increase, or 3.8458 trillion won ($2.66 billion), from the previous year’s 36.8631 trillion won ($25.5 billion).

Leaders Index attributed the increase primarily to SK Hynix, which nearly doubled its dividend payments following record earnings. The firm also noted that government-led initiatives aimed at enhancing corporate value prompted more companies to raise their payouts.

Among the companies surveyed, 285 (51%) increased their dividend payments, while 94 (16.7%) maintained the previous year’s levels and 181 (32.3%) reduced them. Additionally, 54 companies that had not issued dividends in 2023 did so in 2024.

Lee Jae-yong received the highest individual dividend payout, totaling 346.5 billion won ($240 million), an increase of 22.8 billion won ($15.79 million) from the previous year. Hyundai Motor Group Honorary Chairman Chung Mong-koo ranked second with 189.2 billion won ($131 million), followed by Hyundai Motor Group Chairman Chung Eui-sun with 174.7 billion won ($121 million).

The three female members of the Samsung family ranked fourth to sixth. Hotel Shilla President Lee Boo-jin received 148.3 billion won ($102 million), former Leeum Museum of Art Director Hong Ra-hee took in 146.7 billion won ($101 million), and Samsung C&T President Lee Seo-hyun received 114.5 billion won ($79.3 million). Their payouts declined from the previous year due to share sales to cover inheritance tax obligations.

Other major recipients included SK Group Chairman Chey Tae-won with 91 billion won ($63 million), LG Group Chairman Koo Kwang-mo with 77.8 billion won ($53.9 million), Asan Foundation Chairman Chung Mong-joon with 75.6 billion won ($52.36 million), and DB Group Chairman Kim Nam-ho with 43.9 billion won ($30 million).

Seven companies distributed more than 1 trillion won ($692 million) in dividends last year: Samsung Electronics, Hyundai Motor, Kia, SK Hynix, KB Financial Group, Shinhan Financial Group, and Hana Financial Group. SK Hynix recorded the largest year-on-year increase, raising its dividend payouts by 84.1%.

[Kang Jung-a]

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