Samsung Group on Tuesday honored 12 Korean and foreign executives who showed the highest achievements among its 400,000 employees over the past year. 

The award ceremony for the annual “Samsung Award of Honor” was held at the headquarters in Seoul, with some 350 people in attendance, including the recipients, their families and other Samsung executives and employees.

Samsung Electronics vice chairman and the group’s heir apparent Lee Jae-yong also joined the event to celebrate. 

Seven executives were honored for their contributions on the business side. They include Kevin Moreton, the Samsung Electronics vice president who has led the North American semiconductor business, and Shane Higby, the Samsung Electronics vice president who was recognized for helping the company maintain its No. 1 position in the U.S. home appliances market.

Five other executives were also honored for their technological and design contributions across affiliates.

The recipients received promotions and cash rewards worth 100 million won ($84,900). If a recipient wins the honor twice, he or she becomes eligible to be nominated for induction into the Samsung Hall of Fame. 

By Lee Ji-yoon (jylee@heraldcorp.com)