Samsung Group union coalition to demand reform of bonus system

A coalition of unions from 13 Samsung Group affiliates was set to call for reforms in the group's performance-based bonus system Tuesday, following a recent change in the system of local rival SK hynix Inc. that is expected to sharply boost its bonus payments. The alliance said it will demand greater transparency in the calculation of bonuses in a press conference set to be held in front of Samsung Electronic's Seoul headquarters, pointing to that of SK hynix as a model example. Earlier this year, SK hynix's management and union agreed to remove the ceiling on profit-sharing payouts and set bonus payments at 10 percent of operating profits. Samsung Group currently uses the excess profit incentive (OPI) system, which calculates bonuses by deducting certain costs, such as taxes and investment spending, from the operating profit. Under such a system, even when profits are high, the final bonus payout may end up being relatively small. "Representing 300,000 Samsung workers, we decided to hold the press conference to urge Chairman Lee Jae-yong and Samsung Group to adopt a transparent bonus sysWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times