On the 25th, Korean Air announced that it would provide employees with performance bonuses amounting to 500% of their monthly base salary, following record-high sales last year. Korean Air raised the cap for performance bonuses for 2023 from 300% to 500% of the base salary, making this year’s payout the largest in history. The bonuses are set to be distributed after the financial statements are approved at the shareholders' meeting on the 26th of next month.
Korean Air measures safety indicators by evaluating the presence or absence of incidents, and if the targets are met, the company pays an annual safety incentive equivalent to 100% of the monthly base salary. Including the safety incentives paid last month, the total performance bonuses employees receive this year will amount to 600% of the base salary. As of the end of September last year, the number of employees at Korean Air was 18,257, with an average tenure of 18.3 years. The average salary per person reaches 90 million won.
As for Asiana Airlines, which recently merged with Korean Air, no details regarding performance bonuses have been announced yet. A Korean Air official noted that "this performance bonus payment has been decided solely for Korean Air."
Korean Air recorded a sales revenue of 16.1166 trillion won last year, an increase of 10.6% compared to the previous year. This is the company's largest performance ever. Operating profit rose to 1.9446 trillion won, representing a 22.5% increase over the same period, while net profit reached 970.8 billion won, marking a 36.8% increase.