'Timon, Showing "Black Ink" Profit, Gifts Overseas Trips to All Employees'

Reward Decision Ahead of Monthly Profit Turnaround After 10 Years... Company Covers Airline and Accommodation Expenses

At the 'Timon 2020 Family Meeting' held on the 3rd, Timon presented a groundbreaking reward by offering to send all employees on an overseas trip.

A single slide displaying 'Overseas trip + paid leave for all employees' on the screen was met with cheers from about 1,000 employees. This took place at TMON's 'TMON 2020 Family Meeting' held on the 3rd. On that day, TMON made a bold promise to send all employees on an overseas trip if the company turns a monthly profit this year. Unlike a company workshop, the company will grant individual paid leave and cover all airfare and accommodation expenses, which was met with great enthusiasm from the employees.

On the 17th, TMON stated, "Considering the millennial generation's tendency to want personal time for recharging, we judged that giving overseas trip rewards in the form of paid leave is desirable." This pledge is interpreted as stemming from TMON's internal confidence, as it is on the verge of turning a profit, unlike competitors who continue to run deficits. The company acknowledges that the ability to reverse a decade-long deficit in just over a year was possible thanks to the employees' efforts and is therefore providing this reward.

Since CEO Lee Jin-won took office in June last year, TMON has been accelerating efforts to achieve both company growth and performance improvement. Reflecting CEO Lee's strong will, TMON has solidified its identity as a 'time commerce' company by launching Korea's first special price stores measured in minutes and seconds, such as '10-Minute Attack' and '100-Second Attack,' and strengthening time-based special price events. After clearly identifying the causes of the deficit, the company also worked on establishing the principle that 'the essence of commerce is to make a profit.'

The green light for performance improvement turned on in the second half of last year. The monthly deficit, which averaged around 10 billion KRW, was reduced to the 1 billion KRW range in the fourth quarter. As the deficit shrinks, monthly profitability in the first half of this year and annual profitability are expected soon. It is also encouraging that sales growth has been maintained alongside performance improvement.

A corporate culture specialized in motivation also played a catalytic role in the change. TMON promises employees 'immediate rewards.' The rationale is that visible rewards are necessary for employees to have motivation for their work and affection for the company. At the event on the 3rd, the company staged a scene where the top-performing employee was given a luxury electric car, the Tesla Model S, with the company covering all leasing costs and insurance fees. Additionally, outstanding performers were rewarded with immediate salary increases of 10 million KRW, and all employees received an 'air fryer' as a gift.

Going forward, TMON plans to continuously strengthen welfare benefits that all employees can enjoy, in addition to rewards for top performers. CEO Lee Jin-won said, "Quantitative and qualitative growth of a company means not only an increase in corporate value but also becoming a company that can share without worry with its employees," adding, "We will share more achievements created based on turning a profit with all members of TMON."