Korean Job Discussion Forums

[Len8]

I am constantly asked by Korean people I know what my bonus is. It's a little infuriating, because I'm always trying to justify why my wolgup of W1,800,000 is OK. I tell them that accomodation is free, and that we get paid continuosly during the vacations. They just look at me incredulously as if to say what are you doing here for so little paye if you don't get a bonus.

Anyone know how big a Korean workers bonus is. I've heard that the military academies pay their native speakers a bonus as well as severance.

[Real Reality]

The year-end bonus for all of Samsung employees of 47,000 amounted to 500 percent of their basic monthly salary, on top of 150 percent of the basic salary for productivity incentives and 10 to 50 percent of their annual salary last year.
http://english.chosun.com/w21data/html/news/200312/200312010031.html

Hyundai Motor, the largest carmaker in the country, is set to hand out a total of W270 billion in year-end bonuses to its 48,000 workers, accounting for about W5.6 million per worker on the average.
http://www.chosun.com/w21data/html/news/200112/200112180199.html

According to industry sources, Hanwha offered them twice their pay, plus around 100 million won ($85,000) in signing bonuses. Hanwha promised that if they are admitted to one of the top 10 MBA schools in the United States, it would cover the tab.
http://joongangdaily.joins.com/200311/12/200311120051072979900090509052.html

Woori Bank, where the government injected public funds in the wake of the financial crisis, paid 77.8 billion won ($65 million) in bonuses to its employees; equivalent to 400 percent of their monthly wages; based on the bank�s performance in the second half of 2001 and 2002. Woori�s internal policy is to pay up to 200 percent of monthly wages in bonus payments.
http://joongangdaily.joins.com/200306/28/200306280052518379900090509052.html

[lush72]

Real Reality is completely right here. I am told that I will be able to "buy a car" with my bonus. Some of my friends working at various divisions of SK got massive Won last year.

I used to get the spam or tuna set when i was at the hogwon!
BASTARDS!

[Real Reality]

Bonus (in Korean)
http://www.chosun.com/w21data/html/news/200312/200312010334.html
http://www.chosun.com/media/photo/news/200312/200312010334_00.jpg

Tuna Set
37,200 won
http://www.okshoping.com/prg/viewpage.php3?code=810490

Combination
Canned Ham and Tuna
38,000 won (large set: 76,000 won)
http://www.okshoping.com/menu2.htm

Canned Ham
40,000 won
http://www.daesang.co.kr/home/product/giftset/2001ktg_hypork.htm

[dogbert]

The Truth About Bonuses

[taejonguy]

Many companies have cut back on the bonuses this year...mine included! I, and all company workers in my classification, will receive W700,000 in SK gift certificates. Not huge but acceptable.

Remember that they also get standard "bonuses" as well. For example, my contract states I will receive 16 monthly payments over twelve months. Every third month we get a double payment. My payment is 100% of my monthly salary while they get between 80-150 based upon various depatmental and corporate performance goals. They expect this and we would call it salary as there is a definite minimum payment they will receive. they call it a bonus however...I also get a "retirement" payment of 1 months salary yearly.

Last year (or maybe the year before) employees at Samsung Electronics were given a year end bonus equal to 12 months salary. I read this in one of the English language papers (did not keep a record sorry!) and it has been confirmed to me by two co-workers that have family working there. One of them had a brother buy a Rexton with the cash.

[lush72]

[Real Reality]

"In the first half of the year, workers received about 250 percent of their monthly wages as bonuses; it will be similar in the second half of the year," a Posco official said.

Daelim Industrial Co., which gave its workers bonuses equal to 50 percent of monthly wages last year, said this year's bonuses will equal 150 percent of monthly wages. LG Engineering and Construction Corp. is still debating how to distribute bonuses; the firm did strong business in housing construction but saw red ink in plant construction. Last year, LG paid 200 percent to 500 percent of monthly wages as bonuses.
http://joongangdaily.joins.com/200312/15/200312150101086079900090609061.html

[Mankind]

HAND

[weatherman]

Ah, another way of how we are all screwed and bent over for the Korean public. Are pay is low in comparison to a male company worker. About 1/2 jack.