[Alpha Biz= Kim Jisun] Samsung Electronics is facing growing pressure from both labor and political fronts over how it distributes profits, as union demands escalate and broader calls emerge for sharing excess gains from the AI semiconductor boom.

On May 12, labor and management continued last-minute negotiations under post-mediation at the National Labor Relations Commission but remained far apart on reforming the performance-based bonus system. The union is demanding that 15% of operating profit be allocated to bonuses, along with the removal of the cap on the existing Over-Performance Incentive (OPI) scheme and its institutionalization.

The company, however, maintains that it can offer compensation at or above industry levels through special rewards when achieving top-tier performance. It has also proposed a 6.2% wage increase and a housing support program worth up to KRW 500 million, but the union has held firm, emphasizing that formalizing the system is the core issue.

Industry observers note that the union’s demands are relatively high compared to peers. While SK hynix also operates a performance-linked bonus system tied to operating profit, it includes specific conditions and timeframes. In contrast, Samsung’s union is pushing to make the 15% allocation and removal of caps a permanent structure.

The institutionalization demand is particularly sensitive, given the cyclical nature of the semiconductor industry. Critics argue that locking in a fixed profit-sharing formula based on peak-cycle earnings lacks flexibility and could undermine financial stability during downturns.

Samsung Electronics is currently undertaking large-scale investments across multiple fronts, including high-bandwidth memory (HBM), advanced packaging, U.S. expansion, next-generation memory, and foundry competitiveness. Analysts warn that fixing a portion of operating profit for mandatory distribution could constrain future investment capacity, especially during industry downturns.

The debate is also spilling into the political arena. Kim Yong-beom recently proposed the idea of a “national dividend,” suggesting that excess tax revenues generated from AI-related corporate profits should be redistributed to the public. He cited Norway’s sovereign wealth fund as an example, arguing for broader social sharing of gains from the AI era.

The proposal has raised concerns within the business community, with critics warning that treating private-sector profits as quasi-public resources could weaken investment incentives. Civic groups and labor organizations are also joining the discussion, with entities such as People’s Solidarity for Participatory Democracy planning a forum on May 20 to debate how to distribute excess profits in the semiconductor sector.

Meanwhile, global stakeholders are also taking note. The American Chamber of Commerce in Korea has issued a statement expressing concerns that a potential general strike at Samsung Electronics could disrupt global supply chains and undermine Korea’s investment attractiveness.

As negotiations continue, tensions remain high. Choi Seung-ho, head of the Samsung Electronics union, stated that if a mediation proposal is not presented by 8:20 p.m., the union would effectively conclude negotiations—signaling a possible escalation toward broader industrial action.

 

 

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