Hyundai Chairman Received $34 Million in 2013

Hyundai Motor Co. Chairman Chung Mong-koo earned 14 billion won ($13.2 million) in compensation last year, Reuters reports, citing a stock exchange filing.

Chung received 5.6 billion won from Hyundai and 4.2 billion each from the group's Hyundai Steel unit and Hyundai Mobis parts operation. Reuters estimates he also earned a dividend of 22 billion won ($20.8 million) from his 5.2% stake in Hyundai.

Chung's income was disclosed under a new Korean rule requiring publicly traded companies to report compensation details for executives who earn more than 500 million ($472,000) per year.