To the Samsung Electronics Union: "Learn to Be Satisfied"... What Happened with the Man in His 60s at Samsung HQ?

One-Man Picket Held in Front of Samsung Electronics Headquarters
"Union Should Learn to Be Satisfied with Performance Bonuses"

Amid growing public criticism of the excessive performance-based bonus demands by the Samsung Electronics labor union, a one-person picket protest criticizing the union was also held in front of the Samsung Electronics Seocho headquarters.

A man in his 60s, Mr. Park, is holding a one-person picket protest criticizing the Samsung Electronics Labor Union in front of the Samsung Electronics headquarters in Seocho-dong, Seoul, on the 15th. Photo provided by reader

According to industry sources on April 15, a man in his 60s, Mr Park, held a picket protest in front of the Samsung Electronics headquarters in Seocho-dong, Seoul, on this day. Mr Park held a picket sign that read, "To the Samsung Electronics Labor Union."

He argued, "The union sometimes needs to know when to be satisfied," adding, "The current results were not achieved solely through your exceptional abilities." He also stated, "I am neither a conservative nor a progressive, nor a shareholder; I am simply someone who loves 'Samsung'," and requested a meeting with the union leader.

Previously, Samsung Electronics management and the labor union conducted additional wage negotiations and collective bargaining, but failed to reach an agreement. In particular, the union demanded that 15% of the company's total operating profit for this year be paid out as performance-based bonuses. When converted to monetary terms, the union's demand is expected to exceed 40 trillion won.

Choi Seungho, head of the Samsung Electronics Labor Union, said in a radio interview on April 14, "We initially started negotiations at 20% and adjusted it to 15%," adding, "The existing economic value added (EVA)-based performance bonus standard is confidential, so we do not know the exact criteria."

He also demanded the removal of the cap, stating, "Due to the upper limit of a maximum of 50% of annual salary, even if the company performs well, the reward is restricted." The Samsung Electronics labor union plans to go on an 18-day general strike from May 21 to June 7 if no agreement on the collective bargaining is reached.

Meanwhile, the scale of the performance-based bonuses demanded by the union amounts to four times the 11.1 trillion won in dividends Samsung Electronics paid out to shareholders last year. It also exceeds the 37.7 trillion won spent on research and development.

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