1000 Musinsa Employees to Receive 'Hundred Million Won Bonuses' Early Next Year

Chairman Jomanho Transfers Private Stock Worth 100 Billion Won to Employees
About 1,000 Executives and Staff Receive 'Hundred-Million Won Bonuses'

Musinsa employees are expected to receive 'hundred-million-won bonuses' soon. This is because shares worth 100 billion won, gifted by Musinsa founder and Chairman of the Board Jomanho, will be transferred to employees on January 2nd next year.

According to the industry on the 22nd, Musinsa recently proposed a stock dividend plan to the board of directors, allocating 100 new shares per existing share. Currently, Musinsa's stock is estimated to be worth over 1.5 million won per share. If approved, the number of Musinsa shares will increase by 100 times compared to the current amount.

Chairman Jo gifted 100 billion won worth of personal shares to employees in March last year. The number of employees receiving the shares is about 1,000. The amount allocated varies slightly depending on years of service and position. Musinsa plans to lower the price per share and increase the circulating volume to facilitate trading convenience for employees who received the gifted shares.