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- October 19, 20266°
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- October 19, 20266°
South Korean President Lee Criticizes Samsung Union's Profit Share Demand
South Korean President Lee criticized the Samsung union's demand for a pre-tax profit share as an excessive request and indicated possible government intervention...
South Korean President Lee Jae-myung criticized the Samsung Electronics union's demand for a fixed share of pre-tax operating profit. Lee stated that investors receive a share of operating profit and that employees demanding this right is excessive. The union had requested institutionalizing 15% of operating profit as the source of performance bonuses. Lee emphasized that this demand interferes with investor rights and could be considered a collective share of the public. He also pointed out that this situation could create a lasting burden on the company's profitability. A signal was given that the government might intervene in this matter. This dispute with the Samsung union has led to worker strikes and a decline in company shares. The issue continues to spark debate among South Korea's business community and investors.
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