J.Y. Park Tops Pay Rankings Among K-Entertainment Giants in 2024, Bang Si-hyuk Earns Billion Without Salary
J.Y. Park, founder and executive producer of JYP Entertainment, has been crowned the highest-paid figure among Korea’s “Big 4” entertainment companies in 2024, according to newly released corporate reports. Closely behind him are YG’s Yang Hyun-suk and former HYBE CEO Park Ji-won, with HYBE chairman Bang Si-hyuk making headlines for receiving no base salary yet still taking home a hefty bonus.
On March 25, business reports submitted to Korea’s Financial Supervisory Service revealed that a total of 13 executives from the top four entertainment companies received over 500 million KRW (approximately 342,000 USD) in total compensation last year.
Topping the list was J.Y. Park, who received 3.16 billion KRW (approximately 2.2 million USD) in total — 662.88 million KRW in base salary and a massive 2.5 billion KRW in bonuses. JYP stated that the bonus was determined by a compensation committee and evaluated based on “leadership demonstrated in achieving company goals such as the global rookie project, global producing, and ESG performance.”
Yang Hyun-suk, general producer of YG Entertainment, followed with 2.61 billion KRW (approximately 1.8 million USD) in salary alone, including various allowances. YG explained, “The additional compensation was calculated based on actual revenue generated by projects such as music and concerts under the direct supervision of the producer.”
Coming in third was Park Ji-won, former CEO of HYBE, who earned 2.33 billion KRW (approximately 1.6 million USD), including 998 million KRW in salary, 1.33 billion KRW in bonuses, and 2 million KRW in other income. HYBE stated that the bonuses were a performance incentive based on “visible financial success amid internal and external risks, revenue and operating profit growth, as well as diversification of business areas.” He was also granted 1,942 shares of company stock under a long-term performance-based RSU contract.
Other top earners included:
- Jung Wook (JYP CEO): 1.91 billion KRW (417 million KRW salary + 1.5 billion KRW bonus)
- Byun Sang-bong (JYP Vice President): 1.27 billion KRW
- Lee Kyung-jun (HYBE CFO): 1.16 billion KRW
- Jung Jin-soo (HYBE CLO): 1.06 billion KRW
One of the most notable entries on the list was Bang Si-hyuk, chairman of HYBE. Despite declaring in March 2023 that he would forgo his salary, Bang still received 988 million KRW (approximately 680,000 USD) — all through performance bonuses and other labor income.
HYBE explained, “This performance incentive was based on the successful launch of rookie groups and global expansion, enhancing brand value and driving transformation and innovation across changing market conditions.”
Rounding out the list of high earners:
- Yang Min-suk (YG CEO): 960 million KRW
- Kim Tae-ho (HYBE COO): 936 million KRW
- Tak Young-jun (SM Co-CEO): 811 million KRW
- Jang Cheol-hyuk (SM Co-CEO): 810 million KRW
- Lee Sung-soo (SM CAO): 733 million KRW
As Korea’s entertainment industry continues to globalize, the earnings of its executives reflect not only the commercial success of K-pop, but also the fierce competition and evolving leadership dynamics behind the scenes.