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Samsung Electronics to offer incentives amid robust performance

All News 17:46 December 05, 2018

SEOUL, Dec. 5 (Yonhap) -- Samsung Electronics Co. decided to offer incentives to its employees as high as five times their monthly wages amid its record-breaking quarterly performances, industry sources said Wednesday.

According to the sources, Samsung Electronics decided to provide three to five times the amount of monthly wages to staff of the device solution division, which covers the crucial semiconductor business.

Employees of the consumer electronics as well as the IT and mobile divisions will also be provided with incentives worth one month's salary.

Staff of the foundry and system LSI businesses were offered three times the amount of their monthly pay, the sources added.

Samsung Electronics said in October that its third-quarter operating profit moved up 20.9 percent on-year to reach 17.5 trillion won (US$15.7 billion), hitting a new record.

The tech giant added that it will provide incentives to second-tier subcontractors for the first time this year, expanding the scope of subsidies provided to partners.

Samsung said it will offer 4.3 billion won to 89 second-tier subcontractors of the device solution division. The company offered 65.4 billion won to 140 main subcontractors.

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