Dunamu Employees Salaries Leave South Korean Bank Employees Behind
Workers at four significant banks in South Korea have been paid less on average than CEOs and staff at Dunamu, the company that runs the Upbit cryptocurrency exchange. The average pay for Dunamu employees in the first half of 2024 was 133.73 million South Korean won (about $99,500), according to information provided by the Financial Supervisory Service (FSS), which was cited by the local media site News1.
- The pay of the exchange personnel is higher than the average for workers at some of the nation’s largest banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank.
- Major bank employees make an average income of 116 million won (about $86,700) each year, according to FSS data.
Giant Salary Increase from Dunamu: Employees Receive Twice the Salary Compared to 2023
There was not always this kind of pay for Dunamu employees. The average salary of employees in the first half of 2023 was 59.44 million won ($44,100), which indicates that the average salary of employees today has increased by 124% from the same period last year.
Because of the market’s exceptional performance in the first two quarters of 2024, the exchange has increased average salaries. A hint of increased acceptance of digital assets in the US was given on January 10 by the US Securities and Exchange Commission, which authorized the first spot Bitcoin ETFs.
- This increased interest in virtual assets in South Korea impacted Dunamu’s operating income during that period.
- 531.1 billion won (almost $400 million) in consolidated sales were reported by the exchange in the first quarter of 2024. Its operating income rose by 60.5% as compared to Q4 of 2023.
- The data suggests that Dunamu provided large performance bonuses in addition to increased business earnings.
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