The labor union of Shinsegae (004170.KS) has demanded that management hold negotiations over first-half performance bonuses, it was learned.
According to labor and retail industry sources Tuesday, Kim Young-hoon, head of the Shinsegae union under the Federation of Korean Trade Unions' National Textile, Distribution and Construction Workers' Union, posted on the union's website a letter addressed to Shinsegae CEO Park Joo-hyung. In the letter, Kim said, "We demand the formation of a joint labor-management bonus task force to ensure transparency in the process of calculating first-half bonuses and to fairly reward members for their efforts and achievements."
The union demanded an expansion in the scale of bonus payments and negotiations over additional compensation plans. The union also called for codifying the performance bonus system.
A bonus dispute recently erupted at Samsung Electronics (005930.KS). The Kakao (035720.KS) union also launched its first partial strike since the company's founding the previous day.
