Minor shareholders led by platform ACT will hand a joint letter to the National
Pension Service on July 20 seeking to block a management-union performance-pay
scheme at Samsung Electronics that ACT says could divert up to 10.5% of
semiconductor unit operating profit to a special bonus over 10 years with no
cap. ACT says including existing incentives the program would allocate about 12%
of operating profit; based on this year’s results the related bonus could reach
about 40 tln won annually and aggregate into the hundreds of trillions of won
over a decade. The group argues the deal was finalised without shareholder
approval, raises procedural and allocation concerns, and creates an asymmetry
where shareholders absorb share-price downside while employee pay is tied to
operating profit rather than equity performance. The NPS holds a 7.9% stake in
Samsung Electronics.
