The Business Times
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Evergreen Marine, Hyundai Oilbank staff get up to 52-months bonus

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Tay Peck Gek

Tay Peck Gek

Published Wed, Jan 4, 2023 · 07:29 PM
    • Hyundai Oilbank handed to employees 10 times their base salaries as bonuses in 2022, reported The Korea Herald.
    • Hyundai Oilbank handed to employees 10 times their base salaries as bonuses in 2022, reported The Korea Herald. PHOTO: BLOOMBERG

    TAIWANESE container line Evergreen Marine and South Korean refinery Hyundai Oilbank have rewarded their staff with eye-popping bonuses after a banner year.

    Shipping publication TradeWinds reported that Evergreen Marine employees have received bonuses worth between 10 and 52 months of salary in 2022 as the global shipping industry enjoyed an upturn due to pandemic-induced e-commerce boom and supply chain disruptions.

    Freight rates skyrocketed in 2021 and remained elevated in the first half of 2022, sending liners’ profits to record levels. Evergreen Marine posted a net profit of NT$304.4 billion (S$13.3 billion) in the first nine months of last year, up 92 per cent year on year, reported TradeWinds.

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