SEOUL, July 01 (AJP) - South Korea's labor and industry ministries on Wednesday denied online reports claiming the government had instructed Samsung Electronics and SK hynix to scrap existing employee bonus agreements as part of a proposed semiconductor profit-sharing scheme.
The Ministry of Employment and Labor described the reports as "completely groundless" and said it had never sent an official document to either company regarding changes to their performance-based compensation systems.
The denial came after posts circulated on online forums claiming the government had ordered the two memory chipmakers to review their current bonus agreements and redesign employee compensation in line with a government-led excess profit-sharing policy beginning next year.
The labor ministry warned it would take strong action, including referring cases to investigative authorities, against those found to be maliciously spreading false information.
The Ministry of Trade, Industry and Energy also dismissed reports that the government had sent official documents to Samsung Electronics and SK hynix regarding the establishment of a government-led think tank or other measures related to an excess profit-sharing scheme, calling the claims entirely false. It said it would likewise pursue legal action against the malicious distribution of misinformation.
Separately, the labor ministry said it plans to hold a policy forum later this month to discuss semiconductor industry profit-sharing, with the agenda and timing still being finalized.
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