Silicon Works to Pay Employees Performance Bonuses Equal to 600% of Base Salary

Last Year’s Sales Surpassed 1 Trillion Won for the First Time Since Establishment

[Asia Economy Reporter Jeong Hyunjin] Silicon Works, an LG-affiliated fabless company, is paying employees a record-high performance bonus of "600% of the base salary."

According to industry sources on the 28th, Silicon Works posted on the company bulletin board the previous afternoon that "on the 29th of this month, all employees will receive a performance bonus equivalent to 600% of their monthly base salary." This amount is about 30% of last year's annual salary, and some high performers are reported to receive an amount equivalent to 60% of their annual salary when including personal incentives paid last year.

On the same day, Silicon Works announced provisional earnings, reporting sales of 1.1618 trillion KRW and an operating profit of 94.2 billion KRW for last year. Compared to the previous year, sales surged 33.9% and operating profit increased by 99.4%. This is the first time since its founding that sales have exceeded 1 trillion KRW.

Silicon Works was acquired by LG in 2014 and focuses on the design and sales of display driver ICs (DDI, semiconductors that transmit image signals) used in smartphones and TVs. The company is scheduled to be incorporated as an affiliate into the newly established LG holding company (tentative name), led by LG advisor Koo Bon-joon, in May this year.