SK Innovation to Pay Special Incentive Equivalent to 300% of Base Salary

[Asia Economy Reporter Park So-yeon] SK Innovation has decided to pay employees a special incentive equivalent to 300% of their base salary.

According to industry sources on the 14th, Kim Joon, CEO of SK Innovation, sent an email to employees this morning announcing the decision to provide a 'BM (Business Model Innovation) Special Incentive'.

Instead of paying performance bonuses this year due to last year's poor results, the company decided to give an incentive payment.

This decision was made in recognition of last year's achievements, including completing the low-sulfur fuel production facility, the Vacuum Residue Desulfurization System (VRDS), three months ahead of schedule, and completing the battery plant in Changzhou, China.

SK Innovation had paid performance bonuses equivalent to 850% of the base salary last year, but skipped performance bonuses this year as operating profit decreased by 40% compared to the previous year.