Former Citibank president Ha Yung-ku will again be the highest paid bank president in Korea this year.

Though he stepped down from his post in October to make his bid to become KB Financial Group chairman, his total pay as of the third quarter was already more than double that of the runner-up.

Citibank Korea announced last Friday that it paid a total of 2.5 billion won ($2.3 million) to Ha in January-September this year, for his dual role as chairman of Citigroup Korea and president of Citibank Korea.

The final amount is expected to be even higher, as the former chief is yet to receive his retirement payout -- an amount rumored to be as high as 20 billion won, considering his 14 consecutive years of service.

Ha also possesses 19,091 Citigroup shares, which he is entitled to liquidate.

It is unlikely, however, that Ha will continue to remain in the top salary list next year, as he has so far failed to find himself a new position, after losing out in the race to become KB Financial Group chair. He is currently being considered as a potential candidate for the chairman of the Korea Federation of Banks.



Shinhan Bank president Suh Jin-won was ranked No. 2, with 1 billion won during the same period. He was followed by former Standard Chartered Bank Korea chief Richard Hill and former Hana Bank president Kim Jong-jun, who received 996 million won and 947 million won respectively.

Lee Kun-ho, former chief of KB Kookmin Bank, received 566 million won before he resigned from his post in September after being handed a heavy sanction by financial authorities.

By Bae Hyun-jung (tellme@heraldcorp.com)