South Korea Labor Ministry Denies Sending Letter to Scrap Samsung, SK Hynix Bonus Agreements

Posts about a semiconductor excess-profit sharing system have no basis, ministry says

Ministry says it will respond strongly to malicious distribution, including referrals to investigative authorities

South Korea’s Ministry of Employment and Labor said online claims that the government sent Samsung Electronics Co. and SK Hynix Inc. an official letter demanding the scrapping of performance bonus agreements are false.

The ministry said on July 1 that posts circulating online about a “semiconductor excess-profit sharing system” and the “scrapping of performance bonus agreements” were entirely baseless and untrue.

The claims had spread on anonymous online communities for office workers and other platforms. The posts said the government had sent official letters to Samsung Electronics and SK Hynix calling for a full review of existing bonus agreements and telling the companies to design compensation and distribution systems from next year in line with a government-led excess-profit sharing policy.

The ministry said it had sent no such letter. It added that it plans to respond strongly to any malicious distribution of such false posts, including by reporting cases to investigative authorities.

Separately, the ministry plans to hold a forum this month on semiconductor profit distribution and related issues. The specific agenda and timing are still being coordinated.

Lee Jung-woo, Hankyung.com reporter, krse9059@hankyung.com