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Samsung Electronics Increases Incentive Payments for Accident-Free Semiconductor Workplaces to Twice a Year
(Photo: Courtesy of Samsung Electronics)
Previously a one-time payment, payments are now made twice a year starting last year to stimulate the domestic economy.
On January 29, Samsung Electronics paid a total of 18.1 billion won in incentives for the second half of 2015 to approximately 10,000 employees from over 100 semiconductor partner companies. To help stimulate the domestic economy, Samsung Electronics has been paying partner incentives twice a year since last year, dividing the payments into the first and second halves, instead of the previous annual payment.
Partner incentives consist of safety incentives and productivity bonuses, and the regulations stipulate that if Samsung Electronics provides them to a partner company, the partner company must distribute them to its employees.
In particular, starting with the safety incentives for the second half of this year, a new S grade was introduced for partner companies that have achieved an A grade (no accidents or safety regulation violations) for two consecutive years, and more incentives were paid than in the first half, once again setting a new record for the highest incentive payment amount in history. S grade receives 40% more incentive than A grade.
Samsung Electronics first introduced safety incentives for resident partner companies in 2013 to eradicate environmental and safety accidents within its semiconductor facilities, and subsequently achieved 'zero fatalities' for two consecutive years.
Kim Tae-yong, a deputy manager at PNC Tech, a company specializing in semiconductor equipment maintenance, said, “Complying with safety regulations and ensuring one’s own safety is essential, and I am happy that the company supports this and even gives me a bonus.”
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