Sky72 Continues Unauthorized Occupation Using 'Employment Insecurity' as Excuse with Employees in Front

"Claiming Job Insecurity While Company Makes Huge Profits Is Contradictory"
266 Billion KRW Dividends in Last 3 Years, Half as Major Shareholder

On the 1st, officials from Incheon International Airport Corporation held a rally demanding the cessation of unauthorized occupation of Sky72 Golf Course.

[Asia Economy Reporter Dongwoo Lee] "After operating for 20 years, we have recovered all investment costs and earned over 200 billion KRW in profits, yet they are playing the victim."

In response to the ongoing unauthorized occupation by Sky72, the landowner, Incheon International Airport Corporation, rebutted this claim. They pointed out that Sky72, which earns over 200 million KRW in daily operating profit, is making enormous profits by utilizing national property.

It is even more contradictory that Sky72 is raising the issue of 'job insecurity' through its employees. While Sky72 cites the inability to relocate facilities as a reason for large-scale job insecurity, critics argue that they are hiding the fact that the new operator has already promised to take over employment, misleading public opinion by using powerless workers as a front.

Claiming Job Insecurity, but Management Remains Idle

According to industry sources on the 5th, Sky72 continued to operate the golf course and generate huge operating profits even during the period when workers protested over job insecurity.

An official from Incheon Airport Corporation criticized, "While workers protested on-site over job insecurity related to golf course operations, Kim Young-jae, CEO of Sky72, the key stakeholder, remained idle."

According to the audit reports submitted by Sky72 to the Financial Supervisory Service, operating profit increased by 28.2% (from 6.19 billion KRW to 7.94 billion KRW) over the past three years (2017?2019), while employee welfare expenses rose only 16.4% (from 2.03 billion KRW to 2.36 billion KRW).

During the entire golf course operation period (2005?2019), Sky72 recorded cumulative sales of 955.9 billion KRW and net profit of 164.4 billion KRW, distributing 119.1 billion KRW (dividend payout ratio of 72.4%) as dividends during this period.

Kim Young-jae, CEO of Sky72, holds 50% of the shares of ONS Global, the company's largest shareholder (49.9%), thus receiving substantial dividend income. The dividends paid by this company from 2017 to 2019 exceeded 26.6 billion KRW, half of which was distributed to ONS Global.

Kim Kyung-wook, President of Incheon International Airport Corporation, on the 1st, filed a criminal complaint with the Incheon Police Agency against Kim Young-jae, CEO of Sky72, for obstruction of business at the entrance to the Sea Course of Sky72 Golf Course in Yeongjongdo, Incheon, and announced a statement declaring the suspension of water supply to Sky72. / Yeongjongdo = Photo by Kim Hyun-min kimhyun81@

Successor Operator Promises Full Employee Succession and 5% Wage Increase

The successor operator of the golf course, KMH Shilla Leisure, promised to end the 'job insecurity' controversy by guaranteeing the succession of all Sky72 golf course employees and announcing a 5% wage increase. For caddies, they promised not only job security but also the possibility of reassignment to other golf courses owned by the company, such as Paju, Shilla, and Tejeve CC.

KMH Shilla Leisure emphasized, "It is only natural to succeed existing employees in golf course operations," adding, "Even if Incheon Airport Corporation opens part of the golf course for free, caddies can be transferred to affiliated golf courses during that period, or if transfer is not possible, support funds will be provided."

Incheon International Airport Corporation stated, "Sky72 mentioning extension of operations citing employees' job insecurity ignores the facts and only amplifies anxiety and confusion," adding, "Fulfilling the obligation of smooth facility handover is the shortcut to job stability."

Incheon Airport Corporation plans to continuously urge Sky72 to immediately implement the execution agreement to promptly resolve workers' job insecurity.

KMH Shilla Leisure said, "As of today, no one from Sky72 has signed an employment succession contract," but added, "There is still time, and we will do our best for a smooth succession."

Meanwhile, on the 1st, Incheon Airport Corporation filed a complaint with the Incheon Metropolitan Police Agency accusing Sky72 of unauthorized occupation of public land owned by the corporation and obtaining massive illegal profits, charging the Incheon city department head with dereliction of duty and CEO Kim with obstruction of business, among other charges.

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