LH, Executives Return 30% of Salaries to Overcome COVID-19 Crisis

[Asia Economy Reporter Inho Yoo] LH will participate in wage returns to overcome the novel coronavirus infection (COVID-19).

On the 25th, LH announced that to overcome the national crisis caused by the spread of COVID-19 together and fulfill the social responsibility of public institutions, eight executives at the level of standing director or higher will return 30% of their monthly salary, and seven headquarters chiefs at the head office and metropolitan area will return 20% of their monthly salary for four months.

The funds raised through this wage return, approximately 121 million KRW, will be delivered as living support expenses to housing-vulnerable groups suffering from COVID-19 through the Housing Welfare Foundation and others.

Earlier, on the 11th, LH donated 100 million KRW in relief funds to the ‘National Disaster Relief Association’ and supported 67 million KRW for COVID-19 related social contribution projects using the ‘Sharing Fund’ raised by employees.

LH is implementing comprehensive COVID-19 measures to support low-income citizens and self-employed people suffering from COVID-19, including a six-month rent payment deferral for permanent rental housing, rent reduction for commercial spaces, and lunchbox delivery for elderly living alone in permanent rental housing in the Daegu-Gyeongbuk region.

Byun Changhoom, President of LH, said, “We decided to return wages to participate in the government-wide efforts to overcome COVID-19, and we hope this will help vulnerable groups who are experiencing the greatest difficulties in this crisis situation even a little.”

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