A Korean shareholder-rights group has filed a criminal complaint accusing SK
Hynix’s chief executive and Samsung Electronics’ vice chairman and chief
executive of breaching fiduciary duties by agreeing profit-linked bonus
arrangements with labor unions. The group lodged the complaint with police and
separately reported the labor minister to the unit that investigates crimes by
senior public officials, alleging he abused his authority by intervening in
Samsung’s May pay talks. The group argues profit-linked performance bonuses are
profit distributions that require shareholder approval and should not be settled
through collective bargaining.
