Hyundai Oilbank Plans to pay Employees 120 months Bonus

South Korean oil refinery Hyundai Oilbank (HO) announced that it will pay employees a year-end bonus of about 10 times its annual salary (120 months), more than double the maximum 52 months of Taiwan Evergreen Shipping.

South Korea’s Herald reported that although Hyundai Oil Refining refused to disclose the specific bonus amount, the company also issued a bonus of six times the annual salary of the group employees in 2021. At that time, each employee received an average bonus of 726 million won (RM25.51 million).

This also fully reflects the outstanding performance of the annual oil refining industry. In the third quarter of last year alone, the operating interests of modern oil refining jumped by 226% to 2.8 trillion won compared with a year ago. Sources revealed that if the fourth-quarter financial report were added, the total profit of Hyundai Refining would increase more last year.