Salary Agreement Reached, Samsung Electronics Reportedly Plans 90 Trillion Won Share Buyback Program

(Central News Agency, Seoul, June 24, International News) Yonhap News Agency reported today that Samsung Electronics Co., Ltd. plans to implement a share buyback program worth 90 trillion won (approximately 1.852 trillion New Taiwan dollars). This move comes after recent salary negotiations were concluded and an agreement was reached to issue stock incentives to employees.

Yonhap News Agency, citing unnamed industry sources, stated that the memory chip giant is expected to announce the relevant details soon.

Samsung Electronics' management and labor union reached a salary agreement last month. According to the agreement, Samsung Electronics is expected to allocate approximately 10.5% of its operating profit as special incentives for employees in the chip division, to be distributed in the form of stocks. However, this move has also sparked discussions and concerns within the company regarding the fairness of compensation.

The report indicates that Samsung Electronics is expected to spend 154 trillion won for these incentives, including 40% in taxes.

According to the plan, Samsung Electronics employees who receive stock incentives can immediately sell one-third of them. Another one-third must be held for one year before they can be sold, and the remaining one-third can be disposed of after another year. (Compiled by: Hsu Rui-cheng) 1150624

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