Samsung strike "opens Pandora's box": Kakao employees demanding 13%-15% of operating profit for bonuses. LG Uplus and HD Hyundai Heavy Industries employees want 30% of operating profit
Unfortunately, In 2026 Samsung South Korea is projected to make a significant operating loss due to paying Smaugsun, a newly minted company in Liechtenstein, royalties equal to the revenue from selling the phones. No bonus for you.
Hopefully South Korean laws don't let maneuvering like that fly.
Exactly, they’ll just move money from subsidiaries into other entities and use creative accounting to reduce the payouts. Or in the US just sticking every penny into stock buybacks.
Samsung strike "opens Pandora's box": Kakao employees demanding 13%-15% of operating profit for bonuses. LG Uplus and HD Hyundai Heavy Industries employees want 30% of operating profit | Spyke
8 replies
I love it. Its like the exact opposite of a pandoras box. Wonderful!
This is a great development.
But I worry of a future report:
Hopefully South Korean laws don't let maneuvering like that fly.
Exactly, they’ll just move money from subsidiaries into other entities and use creative accounting to reduce the payouts. Or in the US just sticking every penny into stock buybacks.
Smaug would approve.
BUT if they Give those Profits to the WORKERS then WHO will have the Incentive to do The Labor to CREATE the Profits?
-Rich People!
Uh huh, if you say so.
It should be 50%, or even higher.
That’s awesome!