W2.4 tril. in bonuses

By Kim Yoo-chul

Samsung Group is planning to earmark 2.4 trillion won or some $2 billion in a profit-sharing (PS) scheme for employees, sources say.

The record profit sharing comes at a time when its flagship recorded a bumper year last year, while other affiliates also had a good year.

The amount of the bonuses to be awarded depends on the performance of a given affiliate, Samsung officials say.

``As usual, Samsung will follow the incentive plan as scheduled,’’ said a company official, Thursday, adding the bonuses will be given out before the end of the month. He didn’t disclose the amount of the incentives.

``The total amount will reach 2.4 trillion won,’’ said one high-ranking industry source said.

Samsung executes uses PS to share profits over the targets, the amount sometimes totals up to 50 percent of an employee’s annual salary. The total amount is within 20 percent of profits.

Employees of Samsung Electronics, Samsung Electro-Mechanics and Samsung SDI are expected to see big bonuses.

More specifically, Samsung’s semiconductor and handset units will receive a lot more than others thanks to their divisions’ stellar performances, while employees working for home appliances and television divisions will get less, according to the officials.

As of the end of the third quarter of last year, Samsung’s chip division recorded 8 trillion won profit, while its handset unit has been on a stronger track due to its Galaxy S success.

Its digital media division, which mainly handles televisions, posted 650 billion won in profit during the January-September period last year after operating at a loss in the third quarter.

``The fourth quarter won’t be too rosy for the television and home appliances divisions. Employees at the divisions will be awarded less than those of chips and handset units,’’ said another Samsung official.

Separately, the conglomerate has decided to pay bonuses to its executives.