▲ Yanolja CI. (Photo provided by Yanolja)
Yanolja, a global leisure platform company, announced on the 8th that it will pay 10 million won worth of Yanolja stock to all employees for free ahead of IPO.
Stocks are paid separately from the existing compensation system, such as annual salary and bonuses, and have been given two times so far.
Since last year, Yanolja has been running a’royalty program’ that grants stocks for free to inspire members’ sense of belonging and share the company’s vision.
The funding to run the program was provided by free contributions of 600,000 shares of the company owned by co-founders, Soo-jin Lee and C&D CEO Lim Sang-kyu.
This free stock grant program for all employees is applied not only to existing members, but also to newly recruited talents. Therefore, all current employees and new hires can receive shares for free.
Yanolja plans to promote the growth of both the company and the individual by granting free stocks as well as cash compensation.
Even after this payment, Yanolja decided to continue to expand and operate the loyalty program through various evaluation and compensation based on the previously secured financial resources. Through this, it will reward employees in the long term and strengthen investment in talent.
Meanwhile, Yanolja is preparing for IPO and listing within this year.
An official from Yanolja said, “As Yanolja is regarded as the company that will benefit the most from the post-corona era in the global travel and hospitality market, we decided to give free stocks to all employees in order to actively invest in talented people who are future growth engines.” “We will continue to strengthen our global competitiveness as well as enhance corporate value through aggressive recruitment of talented people.”