SEOUL, April 18 (AJU PRESS) - Amid the sluggish global market, Samsung Group will implement its six-day workweek initiative for its executives. All executive personnel of Samsung's affiliates, except those in financial service units, will be required to work six days.
This initiative aims to motivate executive management during crises, particularly considering the underperformance of major affiliates. In 2023, Samsung Electronics reported an operating loss of 15 trillion won ($1.09 billion) in the semiconductor sector alone. The tech giant's operating profit for last year reached 6.6 trillion won, 84.8 percent down from a year ago. Its sales decreased 14.3 percent year-on-year to 258.9 trillion won.
According to corporate insiders, executives from Samsung affiliates, including Samsung Electronics, Samsung Electro-Mechanics, Samsung SDI, and Samsung Display, have decided to adopt a six-day work schedule. Executives of EPC (Engineering, Procurement, Construction)-related units -- Samsung C&T, Samsung Heavy Industries, and Samsung E&A -- have already been operating this schedule since earlier this year.
"This action is also taken into account amid deteriorating business conditions caused by escalating tensions between Iran and Israel, leading to surging exchange rates and oil prices," a Samsung official was quoted as saying.
Other Korean firms are expected to follow suit. SK Group is reportedly holding a management meeting every Saturday.
reporter
Kim Joo-heon
jhkim123@ajunews.com
