It’s not every day that someone receives compensation of over $300 million. Yet, that’s exactly what happened to former Kakao executives, Ye Min-su and Jo Soo-yong. According to Kakao’s 2022 business report, Ye Min-su received a total of $334.17 million, including a salary of $45.6 million, while Jo Soo-yong received $364.47 million, including a salary of $68.5 million.
The jaw-dropping compensation figures were the result of stock options that the executives exercised. Jo Soo-yong exercised stock options of 450,000 shares, realizing a profit of $337.5 million. Ye Min-su, on the other hand, exercised 425,000 shares, pocketing $318.24 million.
But the question remains: what will they do with all that money? While some might be quick to judge and assume they’ll spend it frivolously, it’s important to remember that both Ye and Jo worked hard to earn their compensation.
And they’re not the only ones. Other former Kakao executives also made out well thanks to stock options. Jeong Ji-jeong, former head of the technology department, received $95.68 million, while Kim Ju-won, former head of the consensus center, received $77.34 million, and Kim Taek-soo, former chief product officer, received $62.33 million.
It’s certainly a lot of money, but it’s worth considering that these executives played a key role in Kakao’s success. The company is known for its popular messaging app, KakaoTalk, as well as various other services, including online gaming and financial services.
So, what will they do with all that money? Only time will tell. But one thing’s for sure: they’ve earned it.
