Modetour executives and officers voluntarily cut salaries by 30%... "Strengthening responsibility"

Timon and Wemakeprice Incident, Responsibility Acknowledged for Personal Information Leakage

Modetour recently expressed deep remorse over the TMON and WEMAKEPRICE incidents and the personal information leakage accident, and announced on the 13th that the management and executives have voluntarily decided to reduce their salaries.

This decision was made through an emergency management meeting, and the salaries of the targeted individuals will be cut by a total of 30% for three months from next month through December. The heads of departments and executives voluntarily agreed to return 20% and 10% of their salaries, respectively.

Previously, Modetour experienced a management crisis for about four years due to the No Japan movement that began in August 2019 and the subsequent COVID-19 pandemic. At that time, Modetour executives voluntarily reduced their salaries by 20-70% depending on the period.

The decision to return salaries again is a measure taken by the company to seriously address the recent incidents and to overcome the crisis together with employees, aiming for mid- to long-term management stabilization.

Modetour plans to implement austerity management and reorganize its organizational structure to establish a sustainable management system and increase sales and operating profits. Additionally, to strengthen the protection of customer personal information and restore trust, the company plans to enhance its personal information protection system by introducing more advanced security systems and recruiting specialized personnel.

Yoo In-tae, CEO of Modetour, said, "We decided on this voluntary salary reduction to actively respond to the recent internal and external challenges and to overcome the crisis together with Modetour employees. We will continue to strengthen responsible management with the goal of sustainable growth and do our best to restore customer trust."