Heads of 3 Major R&D Institutions under the Ministry of Industry, including KEIT, "Join in Returning 30% of Salaries"

Jung Yang-ho, President of the Korea Evaluation Institute of Industrial Technology (KEIT). / Photo by Dongju Yoon doso7@

Seok Young-cheol, President of KIAT

Im Chuntaek, Director of KETEP

[Asia Economy Reporter Kim Bo-kyung] The heads of public institutions dedicated to research and development (R&D) under the Ministry of Trade, Industry and Energy will return 30% of their salaries.

The Korea Evaluation Institute of Industrial Technology (KEIT), Korea Institute for Advancement of Technology (KIAT), and Korea Energy Technology Evaluation Institute (KETEP) announced in a joint press release on the 24th that the heads of these institutions have agreed to participate in a relay of returning 30% of their salaries.

The salary return initiative is spreading, starting with public officials at the minister and vice-minister level and above, including President Moon Jae-in.

Jung Yang-ho, President of KEIT; Seok Young-chul, President of KIAT; and Lim Chun-taek, President of KETEP will return 30% of their salaries for four months to secure funds for resolving the COVID-19 crisis.

These three institutions stated, "As organizations responsible for national industrial technology R&D, we have united in the decision to return the salaries of the heads of institutions as a way to share the pain with the public."

They added, "We hope that the related funds will be meaningfully used for national reconstruction amid the COVID-19 crisis," and "We will do our utmost to promote various projects so that the economy can regain vitality as soon as possible."