1500 vs 0… Office workers who loved the performance bonus open Kim Ik-hwan’s Company Watch

“How much was the incentive pay? Let’s reveal that.”

As the ‘performance pay season’ arrived, the curiosity of office workers quickly increased. In various communities, as each company’s motives are revealed, controversy is also ignited. Some companies offer performance bonuses of up to 1,500% of base salary. However, there are also a number of companies that do not provide incentives at all. Complaints and complaints from office workers have also increased over incentive pay that is less than other companies or lower than expected.

According to related industries on the 27th, as an affiliate of LS Group, Korea’s representative liquefied petroleum gas (LPG) distributor,

He was found to have received 1,500% of the basic salary as a bonus in 2022. The company’s performance bonus was paid at the end of last year.

The company posted a cumulative operating profit of 194.8 billion won in the third quarter of last year, turning into a surplus compared to the same period last year. This company, which imports LPG and exports about half of it, has seen a significant increase in performance as the export price of LPG products has risen. The company’s operating profit last year is expected to record the highest since 2008 (331.9 billion won).

Not only gas companies, but also oil refiners incentives were formed at the 1,000% level.

Caltex (1000%) and Hyundai Oilbank (1000%) intend to pay 1000%. SK Innovation was seen to be around 1000%. 1000% is usually around 50% of the annual salary.

Petrochemical companies are expected to be lower than this. In the case of companies producing high added value chemical products, the level is relatively high.

Kumho Petrochemical (400%) and Kumho Polychem (600%), which are related to the chemical group, are between 400 and 600%. The OCI is around 330%. Medium-sized chemical companies such as Hansol Chemical (700%), Kukdo Chemical (500%) and Aekyung Petrochemical (400%) also received high performance bonuses.

However, it is known that Lotte Chemical, Yeochun NCC, and Korea Petrochemical, which performed relatively poorly last year, will not receive incentives. These companies are likely to have an operating loss last year.

The level of incentives for the shipbuilding industry, which performed poorly last year, is not good either. Korea Shipbuilding and Marine Engineering-affiliated HD Hyundai Group, Hyundai Heavy Industries, and Hyundai Samho Heavy Industries are set to receive 170% bonuses. However, other shipbuilders are known to be less likely to accept or accept performance-based pay.

It is known that steelmakers will receive the same amount as in previous years.

plans to pay an additional 13 million earned on top of 300% of basic salary. Korea zinc is 600%.

HMM, which posted a record performance last year, was found to have recently received performance bonuses of up to 600% of its base salary. This company has a high percentage of base pay, so performance pay is estimated to be around 50% of the annual salary. HMM wages were frozen for 9 consecutive years between 2011 and 2019, when performance was uneven due to the collapse of the shipping industry. An increasing number of young workers turned away from the company because they did not get bonuses. However, as last year’s operating profit was estimated to exceed 10 trillion won for the first time ever, performance bonuses increased significantly.

Correspondent Kim Ik-hwan lovepen@hankyung.com