Samsung, SK hynix to Hand Out Large Bonuses amid Robust Chip Sales | Be Korea-savvy

Samsung, SK hynix to Hand Out Large Bonuses amid Robust Chip Sales

(image: SK Hynix)

(image: SK Hynix)

SEOUL, Jul. 3 (Korea Bizwire)South Korean chipmakers are expected to pay large bonuses to their workers this month amid the prolonged boom in the global semiconductor market, corporate sources said Tuesday.

Samsung Electronics Co. told its workers that the company will provide target-achievement incentives, handed out every six months, this week. The amount depends on the performance of each division, and can reach up to 100 percent of an employee’s monthly salary.

Corporate sources said the chip division received a full bonus in the past several years amid strong sales, and is likely to be awarded with the maximum extra pay.

In November 2017, employees of the division received special incentives of 400 percent of monthly salary. Samsung, in addition, provided performance-based incentives of up to 50 percent of annual pay earlier this year for the arm, corporate sources said.

SK hynix Inc. is expected to provide incentives to all staffs reaching as high as their full monthly salary. The company paid bonuses of 50 percent of annual pay earlier this year as well.

“Samsung’s chip division and SK hynix are estimated to have posted record-breaking operating profits for the first half,” an industry insider said. “As the robust earnings are set to continue for the second half, the workers are likely to receive generous bonuses at the end of the year as well.”

Samsung and SK hynix are set to announce their second-quarter earnings reports later this month.


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