Lotte Tour Development Co., Ltd. (032350) joined a Jeju hotel labor agreement on Friday, Newsis reported that day. Hotel Shilla Co., Ltd. (008770) also participated alongside government officials and subcontractors at the signing in Jeju Dream Tower.
The government and companies will provide ₩1.22 billion for programs addressing pay gaps and supporting longer employment. Funding will also support workplace welfare for subcontractor employees who handle hotel cleaning and other contracted services.
The labor ministry and Jeju provincial government will monitor implementation of the agreement and its support programs. The company's market capitalisation was ₩1 trillion at Friday's close.
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| Symbol | Last Price |
|---|---|
| 032350Lotte Tour Development Co., Ltd. | ₩12,530 -0.2% |
| 008770Hotel Shilla Co., Ltd. | ₩42,200 +1.0% |