Sahakyeongeum Donates 'Executive Performance Bonus Returns' to the Workers' Welfare Promotion Fund

[Asia Economy Reporter Park Jihwan] The Private School Teachers' Pension Service announced on the 24th that it will donate the returned executive management evaluation performance bonuses and the TP Hope Sharing Fund to the Workers' Welfare Promotion Fund to support unemployment measures caused by COVID-19.

The total donation amount is 20 million KRW. It was raised through the voluntary return of management evaluation performance bonuses by executives as part of sharing the pain related to the COVID crisis, and the TP Hope Sharing Fund, which was formed from employee donations (salary deductions).

The designated donation to the Workers' Welfare Promotion Fund is used for employment retention and unemployment measures for citizens facing difficulties due to the impact of COVID-19, as the unemployment rate reached its highest level since 1999 at the end of June this year. The donation will be used as resources for unemployment measures for unemployed individuals, special-type workers, self-employed persons, and others.

Chairman Joo Myung-hyun said, "In this unfortunate situation where face-to-face contact has become difficult due to the COVID-19 pandemic and consumption activities have contracted, causing a sharp decline in the number of jobs, I hope that the donation to the Workers' Welfare Promotion Fund will help directly or indirectly solve unemployment issues." He added, "Especially since youth unemployment is serious, I hope that with the end of COVID-19 as soon as possible, the dreams and hopes of young people struggling to enter society will come true."

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