This photo taken on Monday shows the logo of the Samsung Group company in its office building in Seoul. (Yonhap)
The world’s largest memory chip maker said it had awarded incentives worth 41.19 billion won to some 23,000 workers at its 289 chip business partners in the second half of 2020.
Including its first-half bonuses worth 36.53 billion won, the total amount of the company’s incentive payments to partner companies amounted to 77.72 billion won in 2020.
Since 2010, Samsung Electronics has managed an incentive program for its chip partner companies to promote shared growth in the industry. It rewards companies that meet their productivity and safety goals twice a year.
The company has so far paid a total of 425.4 billion won since the program began in 2010.
Meanwhile, the Samsung Group said its 11 affiliates, including Samsung Electronics and Samsung SDI Co., have decided to prepay purchase orders to suppliers so they can better support their employees ahead of the holidays. Lunar New Year in the midst of the pandemic.
A total of 1.3 trillion won will be provided in advance to Samsung partners, with some receiving advance payments two weeks ahead of the usual schedule. (Yonhap)