SK Hynix has agreed to set aside 10% of their operating profit for bonuses and the Samsung labor union is urging Lee Jae-yong to follow suit.
On Tuesday, the Samsung Electronics union submitted a letter to the group chairman Lee Jae-yong, requesting the introduction of a more transparent bonus evaluation system and the abolition of the current system based on economic value added. The day before, SK Hynix reached a temporary wage agreement with the union, which will allocate 10% of annual operating profit for bonuses and remove the 1000% bonus cap on basic employee wages. The Samsung Electronics union stated, "Recently, SK Hynix decided to allocate 10% of annual operating profit for bonuses, while Samsung Electronics is still using the opaque EVA method. Under the current system, even if the operating profit is very high, the bonuses could be zero and there is a cap. Although it is too late to restore workers' trust now, the company should at least show willingness to change."
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