Most Popular
-
1
Yoon's approval rating plunges to all-time low
-
2
S. Korea votes in favor of Palestinian bid for UN membership
-
3
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
4
Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
-
5
[From the Scene] Monks, Buddhists hail return of remains of Buddhas
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
-
6
Medical schools granted enrollment quota flexibility for next year
-
7
Yoon offers first one-on-one meeting with opposition leader next week
-
8
France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
-
9
Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
-
10
Chinese man behind drug scam targeting teens nabbed in Cambodia
[THE INVESTOR] Hyundai Motor Group announced on Oct. 25 that it will cut salaries of 51 affiliate executives by 10 percent starting this month amid the deteriorating business condition.
“Executives of the group’s affiliates are moving to voluntarily cut their salaries,” said a high-ranking official at Hyundai Motor Group on the condition of anonymity. “As far as I know, it (pay cut) will start this month.”
The Korean auto giant's possible pay cut for executives is the first since the 2008 global financial crisis. Some 1,000 executives may join the move, the official said.
Hyundai Motor and its affiliates are struggling to overcome a protracted sales slump at home and abroad.
Unionized workers of Hyundai Motor downed tools from mid-July to late September, costing the largest South Korean carmaker about 3.1 trillion won (US$2.70 billion) in lost production, according to the company.
Hyundai and Kia are set to release their third-quarter earnings reports this week.
(theinvestor@heraldcorp.com)
“Executives of the group’s affiliates are moving to voluntarily cut their salaries,” said a high-ranking official at Hyundai Motor Group on the condition of anonymity. “As far as I know, it (pay cut) will start this month.”
The Korean auto giant's possible pay cut for executives is the first since the 2008 global financial crisis. Some 1,000 executives may join the move, the official said.
Hyundai Motor and its affiliates are struggling to overcome a protracted sales slump at home and abroad.
Unionized workers of Hyundai Motor downed tools from mid-July to late September, costing the largest South Korean carmaker about 3.1 trillion won (US$2.70 billion) in lost production, according to the company.
Hyundai and Kia are set to release their third-quarter earnings reports this week.
(theinvestor@heraldcorp.com)
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
![[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/18/20240418050645_0.jpg&u=20240419100350)
![[Today’s K-pop] Illit drops debut single remix](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/04/19/20240419050612_0.jpg&u=)