SK Inno Creates Greater Social Value Together with Government and Partners

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation announced on the 13th that it held the '2020 SK Innovation Partner Win-Win Fund Delivery Ceremony' at the SK Ulsan CLX (Complex) Harmony Hall and delivered a total of 2.96 billion KRW to SK Innovation affiliate partners.

The win-win fund delivered on this day was formed from half of the 1% Happiness Sharing Fund, which was created by SK Innovation employees donating 1% of their base salary and the company matching the amount through a matching grant method, totaling 2.56 billion KRW, combined with contributions from the government and partner companies to the joint labor welfare fund. A total of 6,819 members of SK Innovation affiliate partners are eligible for support.

In particular, this year, with the government and partner companies participating in the fund formation, the SK Innovation partner win-win fund has firmly established itself as a leading domestic model for mutual growth. The joint labor welfare fund, created together by SK Innovation, the government, and partner companies, will be provided as welfare programs that offer practical benefits to partner company members after consultations with the partners.

Since its implementation in 2018, the SK Innovation partner win-win fund has paid out a total of 7.47 billion KRW over three years, supporting approximately 15,200 members of SK Innovation affiliate partners. The scale of the fund and the number of beneficiaries have continuously increased each year, and this year, based on cooperation among the government, large corporations, and small and medium enterprises, a portion of the amount was allocated to the joint labor welfare fund, thereby creating greater social value for mutual growth.

Kim Joon, CEO of SK Innovation, said, "Under 'Happy Management,' SK aims to create a happier society for all through activities that pursue social value, which is the ultimate goal of our management." He added, "I would like to express my gratitude to the government and partner company officials who have worked hard to implement the joint labor welfare fund that practically helps bridge the gap between large corporations and small and medium enterprises."

Meanwhile, SK Innovation agreed in the September 2017 labor-management agreement to establish the 1% Happiness Sharing Fund by employees and decided to use half of it for partner company members. The 1% Happiness Sharing Fund is created by employees voluntarily donating 1% of their base salary each month, with the company matching the same amount, and is used to create social value and spread happiness.

This content was produced with the assistance of AI translation services.