SEOUL: South Korea’s flag carrier Korean Air will put 70% of its 19,000 staff on furlough, it said, as it scrambles to cope with the coronavirus pandemic that has brought global aviation to a standstill.
Korean Air is the flagship of the Hanjin group, one of the multifaceted, family-controlled conglomerates known as chaebols that dominate business in South Korea and played a key part in its rise to become the world’s 12th-largest economy. According to normal South Korean practice, the workers will receive 70% of their normal pay, with most of it – reportedly up to 90% – funded by a government scheme for industries in need of special assistance due to the coronavirus.
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