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Coronavirus Resurgence Raises Specter of Big-firm Shutdowns

Coronavirus Resurgence Raises Specter of Big-firm Shutdowns

SEOUL, Aug. 25 (Korea Bizwire) — A recent resurgence of coronavirus infections at home and abroad has sparked concern over possible factory shutdowns by major South Korean companies, industry sources said Tuesday. Several large enterprises were forced to shutter domestic and overseas plants in the thick of the coronavirus pandemic between February and April. Electronics [...]

Big Firms Sharply Cut Performance Pay, Dividends on Dismal Earnings

Big Firms Sharply Cut Performance Pay, Dividends on Dismal Earnings

SEOUL, Feb. 5 (Korea Bizwire) — Major South Korean companies sharply cut payments of performance-based pay and dividends for 2019 due to abysmal earnings, industry sources said Wednesday. Top-cap Samsung Electronics Co. recently decided to lower the maximum amount of performance pay for workers at its semiconductor division to 29 percent of their annual salary [...]