Korea’s four significant travel services have cut almost 50% of their labor forces throughout the course of recent years right after the Covid pandemic, information showed Tuesday.
The four players ― Hana Tour, Modetour Network, Yellow Balloon Tour and Very Good Tour ― had a consolidated headcount of 2,385 as of the finish of last year, down 48% from two years sooner, as per the information from the Financial Supervisory Service.
The labor force of industry pioneer Hana Tour plunged 52.8 percent to 1,180 over the refered to period, with that of No. 2 player Modetour Network sinking 42.6 percent to 665.
Yellow Balloon Tour’s headcount plunged 46.1 percent to 298, and that of Very Good visit shrank 35.3 percent to 242.
Their work cuts came as those visit offices stayed in the red during the two years due to the Covid pandemic.
Hana Tour posted a merged working deficiency of 127.3 billion won ($105 million) in 2021, losing cash for the second continuous year. The three leftover firms likewise saw their working misfortunes broaden in 2021 from a year sooner.
Stung by the Covid pandemic, Korea’s club administrators and obligation free shops have likewise been compelled to diminish their payrolls throughout the course of recent years in the midst of developing deficiencies, separate industry information showed.
State-claimed Kangwon Land Inc., the country’s just gambling club open to local people, had a labor force of 3,858 as of end-December 2021, down 25 percent from two years sooner.
Another state gambling club administrator Grand Korea Leisure (GKL) serving outsiders just and private club administrator Paradise Group additionally cut payrolls by 10.4 percent and 5.3 percent, separately, over the refered to period.
Two significant obligation free shop administrators ― Hotel Shilla and Hotel Lotte ― decreased their labor forces by 11.7 percent and 6.2 percent, separately, over the two-year time frame.
Industry watchers said the neighborhood visit industry might get a slight lift from Seoul’s new move to unwind Covid limitations on both inbound and outbound voyagers. (Yonhap)
