Korea National Oil Corporation Executives and Department Heads Return 20-30% of Salaries to Share COVID-19 Burden

Korea National Oil Corporation

[Asia Economy Reporter Moon Chaeseok] Korea National Oil Corporation announced on the 31st that President Yang Sooyoung and all executives and department heads will return a portion of their salaries to share the pain of the people and overcome the novel coronavirus infection (COVID-19).

President Yang and the executives will return 30% of their salaries for four months, and department heads will return 20% of their salaries for four months. The returned funds will be used to support local small business owners and vulnerable groups struggling due to the COVID-19 crisis.

President Yang stated, "In a situation where the entire nation is experiencing unprecedented difficulties due to the spread of COVID-19, we decided to return our salaries to be of some help to the local community," and emphasized, "Going forward, the corporation will actively engage in various activities to overcome COVID-19."

Earlier, on the 5th, the Oil Corporation donated 200 million won collected by all employees to vulnerable groups in the Daegu and Ulsan regions. Additionally, 900 lunch boxes prepared by employees were provided to medical staff at the Ulsan Jung-gu Public Health Center.

Also, on the 24th and 25th, about 200 employees participated in a group blood donation to alleviate the blood supply shortage. To revitalize the local economy, on the 2nd of next month, they plan to purchase local agricultural products and deliver them to 200 low-income elderly single-person households residing in Ulsan Jung-gu.