Government denies rumor it ordered Samsung, SK hynix to scrap bonus deals

Two government ministries have dismissed the viral claim that the country ordered Samsung Electronics and SK hynix to scrap their existing performance bonus agreements to make way for an alleged scheme to share the excess profit made by semiconductor firms.

"The posts circulating online about a 'semiconductor excess profit-sharing scheme' and the 'scrapping of performance-pay agreements' are completely baseless and false," the Ministry of Employment and Labor said Wednesday.

Posts have been going viral claiming that the government sent official documents to Samsung Electronics and SK hynix, ordering them to "fully review their performance-pay deals" and, from next year, to "redesign how they reward employees and distribute profits under a government-led excess profit-sharing policy."

The Labor Ministry said it had sent no such document.

"We plan to respond firmly to any malicious spreading of these false posts, including by reporting them to law enforcement," it said.

The Ministry of Trade, Industry and Resources also rejected the rumor.

"The posts claiming that the government sent official documents to Samsung Electronics and SK hynix to set up a government-led think tank on excess profit-sharing are entirely untrue," the ministry said.

Separately, the Labor Ministry plans to hold a forum this month on issues including how semiconductor profits are shared. The agenda and timing are still being worked out.

BY JEONG HYE-JEONG [[email protected]]