[Edaily Reporter Kyung Gye-young] The Shinsegae Labor Union has demanded that management increase the size of performance-based bonuses and come up with additional compensation measures.
According to industry sources on the 12th, Kim Young-hoon, chairman of the Shinsegae Labor Union and a member of the Korean Confederation of Trade Unions (KCTU) National Federation of Textile, Distribution, and Construction Workers’ Unions, posted an official letter addressed to Shinsegae CEO Park Ju-hyung on the union’s website the previous day.
In the letter, Chairman Kim stated, “We demand the formation of a ‘Joint Labor-Management Performance Bonus Task Force’ to ensure transparency in the calculation process for the first-half performance bonuses and to ensure that union members are fairly compensated for their hard work and achievements.”
Regarding performance bonuses, the union requested that the bonus payout range be expanded from 10% to 15% and that negotiations for additional compensation be conducted. It also added a request to disclose the criteria and basis for calculating the first-half performance bonuses this year and to formalize the performance bonus system in writing.
Starting with the recent conflict over performance bonuses between labor and management at #Samsung Electronics, demands from labor unions for increased performance bonuses are intensifying across the entire industry, including at #Hyundai Motor and #Kakao.
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