Venture capitalists in S.Korea enjoy record salaries in 2021

South Korea’s venture capitalists put record high investments into startups last year. Thanks to positive returns on investments, a number of executives at VC firms received more than a billion won ($821,250) in bonuses alone. 

At the 14 publicly traded venture capital firms, 16 executives received more than a billion won in their overall financial compensations in 2021, according to the Financial Supervisory Service on Sunday. 

The headcount is a quadruple jump from just four people receiving more than 1 billion won in annual pay in 2020. 

Below the 1 billion won mark, more than 30 people joined the 500 million won club last year. 

Excluding the profits made from exercising stock options, Woori Technology Investment Co. CEO Lee Jeong-hoon received the highest pay in Korea’s VC scene last year with 2.8 billion won. Lee received more than 1 billion won in bonuses. 

The company’s managing directors Choi Jae-woong and Kim Tae-sung each received more than 1 billion won in annual pay.

Woori Technology Investment Co. has a 7.4% stake in Dunamu Inc. The country's largest cryptocurrency exchange operator is widely expected to become a decacorn, a startup valued at over $10 billion. 

From Daesung Private Equity, managing director and CCO Kim Wan-sik received 2.1 billion won, while CEO Kim Young-hoon got paid 1.4 billion won. 

The private equity firm made early investments in unicorns or a privately held startup valued at $1 billion. They include Krafton Inc., RIDI Corp. and Riiid Labs.

Daesung reaped 19.9 billion won in return on investment partnerships last year – a 145% increase from the same figure seen the prior year. 

From Daol Investment & Securities Co., four employees got paid more than 1 billion won last year. Previously known as KTB Network, the company is one of South Korea’s first-generation venture capital firms. 

Its managing director Park Sun-bae received close to 2 billion won in financial compensation, 1.7 billion of which was in bonuses including performance-based pay. Park’s overall pay last year was higher than that of the company’s vice chairman and CEO. 

Park received returns on early stage investments on Baedal Minjok by Woowa Brothers Corp. and Rainbow Robotics Co. 

CEO and Vice Chairman of Atinum Investment Shin Ki-chun and its chief managing director Hwang Chang-seok also joined the 1 billion won club. 

Aju IB Investment Co. CEO Kim Ji-won and CEO of Mirae Asset Venture Investment Co. Kim Eung-seok are both in the 1 billion won club as well. 

The highest-paid VC of 2020, senior managing director at DSC Investment Kim Yo-han, received 876 million won in compensation last year. 

Write to Jong Woo Kim at jongwoo@hankyung.com
Jee Abbey Lee edited this article.