Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry and SK Group, stated that he may need to revise the controversial "10% operating profit bonus" system at SK Hynix if it infringes on stakeholder interests.
During a press conference on July 15 at the 49th Korea Chamber of Commerce and Industry Summer Forum held at the Jeju Shilla Hotel, Choi remarked, "The happiness of our members is the goal, but there is a caveat: stakeholders must also be happy." He emphasized that if the bonus system negatively impacts shareholders and other stakeholders, "we may need to intervene for sustainable happiness." However, he clarified that there are no immediate plans to change the system.
Choi acknowledged that creating such systems can lead to unexpected situations, noting, "I understand that there are people who are not employees of SK Hynix but still support it. I believe there are positive effects from this as well."
He denied claims that an executive responsible for the bonus system was fired against his wishes, stating, "There is absolutely no such fact."
Meanwhile, SK Hynix abolished the cap on bonuses in the second half of last year, leading to a payout rate of up to 2,964% of base salary this year, resulting in employees receiving bonuses worth millions of won. This change has sparked similar demands from labor unions, including those at Samsung Electronics, regarding the removal of bonus caps and the distribution of a percentage of operating profits, escalating the controversy across the industry.
* This article has been translated by AI.
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