Hanwha Group Executives Voluntarily Return 20% of Their Salaries

[Asia Economy Reporter Hwang Yoon-joo] Executives of Hanwha Group affiliates have voluntarily decided to return part of their salaries in response to the challenging business environment caused by the spread of the novel coronavirus infection (COVID-19).

According to Hanwha Group on the 8th, following the executives of Hanwha Hotels & Resorts returning 20% of their salaries, executives of Hanwha General Insurance have also decided to return a portion of their salaries starting this month.

Executives of Hanwha Corporation and other Hanwha Group affiliates are determining the return ratio through consultations with their companies, and it is reported that the number of affiliates participating in this effort continues to increase.

Meanwhile, Hanwha Hotels & Resorts has implemented paid leave starting in April as the operating rates of its resorts have dropped to as low as 10%, worsening the business environment.

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