3,800,000,000 won... Prime Minister of 'This Country' to Receive a Salary Increase Next Month

【Hanoi, Vietnam = Correspondent Kim Jun-seok】$2.85 million (3.82441 billion won). The Singapore prime minister’s annual salary will increase by 64% starting in October. 
Singapore Prime Minister Lawrence Wong said in a parliamentary speech on the 8th that the salaries of political leaders, including ministers, would be increased starting October 15. As a result, the prime minister’s annual salary will rise from the current 2.2 million Singapore dollars (approximately 2.3342 billion won) to 3.6 million Singapore dollars (approximately $2.85 million, or 3.82441 billion won).
The Singapore prime minister is considered the highest-paid national leader in the world. The United Kingdom prime minister earns approximately $230,000 (about 308.63 million won), while the United States president earns about $400,000 (approximately 536.76 million won). Singapore’s prime minister also far out earns the chief executive of Hong Kong, known for receiving a high salary of approximately $719,000, and the president of Switzerland, who earns $606,000.
Ministerial salaries will also increase. The salary ceiling for lower-ranking ministers, who currently earn 1.1 million Singapore dollars annually (approximately 1.16711 billion won), will rise to 1.8 million Singapore dollars (approximately 1.91023 billion won). However, the initial increase will be a one-time raise of up to 9%, followed by gradual adjustments based on performance and responsibilities. By the end of their terms, most lower-ranking ministers are expected to earn approximately 1.35 million Singapore dollars (about 1.43267 billion won).
Prime Minister Wong emphasized, "The salaries of political leaders are a sensitive issue because they are higher than what most citizens earn," adding, "The question is whether Singapore can continue to secure the level of political leadership it needs." Lawrence Wong said he would donate his salary increase to charities over the next five years.
Singapore has maintained high salaries for politicians to attract outstanding talent and prevent corruption. However, after cutting ministerial salaries by 36% in 2012 amid public concerns, it had kept them frozen. The proposed increase will be discussed in Parliament on October 11.
[email protected] Kim Jun-seok Reporter