SM, YG, and JYP Entertainment’s reports were also analyzed.
Koreaboo
13 minutes ago
HYBE is facing intense criticism after Korean media exposed the company’s major gender pay gap.
| Kukmin Ilbo
According to Asia Business Daily‘s analysis of HYBE’s financial reports, the company’s male employees receive an average of ₩158 million KRW (about $114,000 USD) in annual pay — more than three times as much as its female employees, who average just ₩49.0 million KRW (about $35,500 USD).
Women, who have been key drivers of HYBE’s growth, are taking on the day-to-day work while being thoroughly marginalized when it comes to compensation.
— Asia Business Daily
Not only is the gap steep, but it doesn’t appear to be closing any time soon. Compared with three years ago, the average pay for female HYBE employees has actually dropped by ₩6.00 million KRW (about $4,350 USD), while male employees’ pay has grown by almost as much. The divide comes despite women outnumbering men by more than 2:1 at HYBE.
Kim Joo Young, former ADOR CEO and HYBE’s CHRO | Newsis
SM Entertainment, YG Entertainment, and JYP Entertainment all reported far smaller gaps between male and female average pay this year. At all three companies, women’s total payroll also exceeded men’s, in line with women making up a larger proportion of their workforces.
Kim Ji Won, SM Entertainment’s CRO | SM Entertainment
Responding to the report, a HYBE representative denied that there was a gender-based pay gap among employees. However, it is clear that much of the pay imbalance traces back to HYBE’s male-heavy executive team.
| SBS
The fact that men’s pay appears higher than women’s is an optical illusion caused by one-time stock compensation paid to some long-serving executives. We are applying our ‘pay for performance policy’ fairly regardless of gender.
— HYBE
Despite having more female employees, only 20% of HYBE’s leadership is made up of women. In comparison, HYBE has 25 male executives, many of whom benefit heavily from additional compensation. Four unregistered male executives, including COO and BELIFT LAB CEO Kim Tae Ho and CFO Lee Kyung Joon, reportedly received stock-heavy compensation averaging ₩6.00 billion KRW (about $4.35 million USD) this year.
Kim Tae Ho, HYBE’s COO and BELIFT LAB’s CEO | News1
In response, netizens are slamming the agency, particularly given HYBE’s attempt to defend the pay gap.
| TheQoo
- “Bastards, and it’s not just a few. It’s the average.”
- “You know that famous photo, right? Where literally all the executives are Korean men and foreign men lol.”
- “It’s a company full of old bastards, so…”
- “They’ll probably use that money to go on dates with female streamers or whatever.”
- “This place seems more afraid of having articles published that name the executives than of girl groups being subjected to all kinds of personal attacks.”
- “Not surprising at all.”
Source: Asia Business Daily