Korea Hydro & Nuclear Power Executive Returns 30% of Salary to Support Small Businesses and Vulnerable Groups

[Asia Economy Reporter Kim Bo-kyung] Korea Hydro & Nuclear Power (KHNP) will partially forgo salaries to share the pain with citizens struggling due to the novel coronavirus infection (COVID-19).

According to KHNP on the 24th, President Jeong Jae-hoon and executives at the headquarters director level have decided to forgo 30% of their monthly salary for four months starting this month. Approximately 1,000 managers at the department head and deputy general manager levels will also decide the amount individually within a certain range and plan to forgo their salaries for four months.

The forfeited funds will be used to revitalize the local economy and support vulnerable groups.

President Jeong Jae-hoon stated, "In this unprecedented crisis, we decided to forgo salaries to provide some support to the local communities facing difficulties."

He added, "The secured funds will be promptly deployed to all areas where the headquarters and business sites are located to actively support small business owners who have been directly hit by the economic downturn and help them regain vitality."

Meanwhile, KHNP recently donated a total of over 800 million won to Daegu, Gyeongbuk, and Gyeongju to overcome the COVID-19 crisis.

They provided approximately 94,000 masks and 10,000 hand sanitizers to 345 villages around five nuclear power headquarters nationwide, including children's centers and comprehensive welfare centers for the disabled in the Gyeongju area. They also delivered encouragement supplies worth about 10 million won to medical staff at 27 screening clinics nationwide.

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