Nexon Raises Starting Salary for New Employees to 50 Million KRW... Highest Level in South Korea

[Asia Economy Reporter Buaeri] Nexon has taken steps to secure top talent by upgrading its wage system to the highest level among domestic large corporations.

On the 1st, Nexon announced that starting this year, the starting annual salary for new employees will be increased to 50 million KRW for development positions and 45 million KRW for non-development positions.

Previously, Nexon's starting salaries were around 42 million KRW for development roles and 37 million KRW for non-development roles.

Considering that the average annual salary for large companies with over 500 employees in 2020, as disclosed by the Ministry of Employment and Labor, was 33.47 million KRW, the company claims this is the highest level among domestic firms.

Accordingly, the salaries of current employees will also increase. Nexon has decided to uniformly raise the 2021 annual salary of its employees by 8 million KRW.

The company-wide average raise rate is 13%, nearly double that of last year, with higher raise rates applied to employees with fewer years of service.

Despite challenging circumstances last year, Nexon plans to pay performance bonuses at a higher level than the previous year as a reward for employees who contributed to the company's growth. The company intends to maximize employees' passion and motivation by providing top-level performance bonuses commensurate with the achievements of outstanding teams and individuals.

Nexon will also resume open recruitment for new graduates and experienced professionals, which had been suspended since 2018, within the first half of this year. Through this, the company plans to aggressively continue investments in various fields such as new development projects, artificial intelligence (AI) research, and business development.

Lee Jung-heon, CEO of Nexon, said, "Since last year, we have been considering what competitiveness Nexon needs to take a step further as a global top-tier company. We concluded to strengthen talent management through systematic salary increases rather than one-time encouragement."

This content was produced with the assistance of AI translation services.