South Korean labour unions push for higher payouts after Samsung’s US$400,000 bonus

AI Summary

South Korean labor unions are demanding higher profit-sharing payouts following Samsung Electronics’ announcement of US$400,000 bonuses for some employees. Strikes and protests are ongoing at Hyundai Motor, HD Hyundai Heavy Industries, and LG Uplus for bonus increases tied to company profits.

Labour unions are rallying across South Korea after Samsung Electronics caved in to protests and agreed to hand out bonuses of more than US$400,000 to some of its employees. Just this week, assembly-line workers at Hyundai Motor staged a three-day partial strike as they seek up to 30 per cent of consolidated profit to be set aside for bonuses. Meanwhile, unions at HD Hyundai Heavy Industries and telecoms operator LG Uplus want payouts equivalent to at least 30 per cent of operating profit, while...