Foxconn Offers 500,000 KRW Incentive to Early Returning Employees Amid 'iPhone Production Emergency'

[Image source=AP Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Foxconn, Apple's largest contract manufacturer, has decided to provide incentives to employees who return to work early in order to increase the sharply declined iPhone production caused by the spread of the novel coronavirus (COVID-19).

According to Caixin and others on the 17th, Foxconn will pay 3,000 yuan (about 500,000 KRW) per person to employees who return early at its Zhengzhou factory in Henan Province, China.

Foxconn has decided to pay 3,000 yuan each to employees within Henan Province who return before February 29 and to employees from other provinces who return before March 7.

While encouraging employees to return, Foxconn is also conducting new hiring.

Foxconn resumed operations at the Zhengzhou factory on the 10th after the Spring Festival holiday was extended by ten days due to the COVID-19 outbreak, but only about 16,000 employees, or 10% of the workforce, had returned at that time.

The Shenzhen factory in Guangdong Province, one of Foxconn's two major factories in China along with the Zhengzhou factory, has not yet resumed production.

Foxconn plans to restore 50% of its production capacity in China by the end of this month and increase it to about 80% in March.