"The semiconductor boom was built with the people"... From record bonuses at Samsung and SK to calls for paying them in local currency

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[Financial News] The labor union at Samsung Electronics has warned of a strike as it demands more than 4 trillion won in performance bonuses. In the financial investment industry, some analysts are predicting that bonuses for SK hynix employees could exceed 1 billion won per person. As Samsung Electronics and SK hynix roll out massive bonuses amid a global semiconductor boom, the issue is spilling over into a broader social controversy.
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On some online communities, people are even arguing that these bonuses should be paid in local currency vouchers.
In certain communities, there are even far-fetched proposals to "pay bonuses in local currency" in order to boost domestic consumption.
According to the Seoul Economic Daily on the 16th, posts making such arguments have recently appeared on workplace community apps.
One user, who said they work at a regional Credit Guarantee Foundation, wrote, "Paying Samjeon and Hynix (Samsung Electronics and SK hynix) bonuses in local currency sounds fine to me," and opened by asking, "Did the conglomerates achieve this all by themselves?"
The user went on, "The people achieved it together," adding, "Fine, let them get their bonuses. But they should be structured for the domestic economy so the money doesn’t just flow into real estate (so pay them in local currency)."
Another user, who identified as a public servant, directly criticized the situation, saying, "Why are SK hynix bonuses only going to SK hynix?" and, "When Hynix was on the verge of collapse, it was revived by dipping into national tax revenues through Korea Development Bank (KDB). So shouldn’t SK hynix bonuses naturally be shared by the entire nation?"
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These claims are rooted in the argument that when the two companies were struggling through a semiconductor downturn, they stayed afloat thanks to taxpayer support, which laid the groundwork for their current growth.
In 2023, the government revised the Restriction of Special Taxation Act, known as the "K-Chips Act," to grant tax credits of up to 20% for research and development and facility investment. The combined tax benefits received by the two companies over the past two years are estimated at around 20 trillion won.
Earlier this year, the National Assembly of the Republic of Korea passed the Semiconductor Special Act in a plenary session, creating a legal basis for comprehensive support such as roads and water supply. The law will take effect on August 11.
y27k@fnnews.com Seo Yoon-kyung Reporter