417 Billion KRW Paid to 271 Companies and Over 20,000 Individuals for Incentives in the Second Half of Last Year
Employees of Samsung Electronics and its partner companies are pledging cooperation for mutual growth at the Samsung Electronics Hwaseong Campus. (From left: Choi Chang-hoon, employee at Finetek; Kim Chang-han, Executive Vice President of Samsung Electronics DS Division Win-Win Cooperation Center; Lee Kyung-geun, Managing Director at Finetek; Jeong Tae-gwan, employee at Finetek)[Asia Economy Reporter Ki-min Lee] Samsung Electronics will provide semiconductor partners with incentives totaling a record 41.74 billion KRW. Samsung Electronics continues to expand the scale of payments to outstanding first- and second-tier partners stationed at semiconductor business sites.
On the 22nd, Samsung Electronics announced on the 21st that it will pay incentives totaling 41.74 billion KRW for the second half of last year to about 20,000 employees of 271 semiconductor partner companies. This second-half incentive is the largest amount since the system was implemented in 2010.
Samsung Electronics has been operating the incentive system for 11 years since 2010 and has continuously expanded the eligible companies to include ▲production and quality ▲environmental safety and infrastructure ▲equipment maintenance ▲IT partners. Since paying incentives totaling 5.06 billion KRW to 46 companies in 2010, it paid 25.66 billion KRW to 146 companies in the first half of 2018, 38.18 billion KRW to 224 companies in the second half, and 18.23 billion KRW as special incentives. In the first half of last year, it paid 32.33 billion KRW to 271 companies.
Additionally, since 2018, Samsung Electronics has supported the ‘Semiconductor Precision Piping Technology Academy’ operated by eight semiconductor partners to help cultivate excellent personnel, while also supporting partner companies’ educational capabilities through human resource development (HRD) consulting.
Jung Tae-gwan, an employee of Finetek and a graduate of the second class of the Semiconductor Precision Piping Technology Academy, said, "The 15-week curriculum of theory and practical training at the academy has been very helpful in my current work," adding, "I am happy to receive incentives as I worked hard and paid attention to safety with my colleagues on site."
Moreover, since 2012, Samsung Electronics has been providing Onnuri gift certificates to partner company employees who work during holidays. This year alone, gift certificates worth 1.54 billion KRW were distributed during the Lunar New Year, and the total amount of gift certificates distributed since 2012 has reached approximately 25.83 billion KRW.
Samsung Electronics stated, “We will continue to strengthen partnerships through various systems and active support for our partners.”
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