Lates News

According to reports from South Korean media, a shareholder rights group representing individual investors has filed criminal charges against the CEOs of Samsung Electronics and SK Hynix, accusing the two companies of illegally entering into profit-sharing bonus agreements with labor unions. The group, known as the "Korean Shareholders Movement Headquarters," has accused SK Hynix CEO Guo Lu Zheng, Samsung Electronics Vice Chairman Quan Yong Hyun, and CEO Lee Tae-won of violating their fiduciary duties to shareholders. Additionally, the group has reported Labor Minister Kim Young-soon to the "High-ranking Public Officials Crimes Investigation Division," accusing him of abusing his power when intervening in Samsung's salary negotiations in May. The group's leader, Min Kyung-kwon, stated that performance bonuses linked to company profits should be considered as profit distribution and should not be subject to collective bargaining. Min Kyung-kwon said, "Any profit-sharing arrangement should be approved by shareholders and should not be negotiated through collective bargaining."