LG Electronics’ Home Appliances Department, which took the best performance, up to 750% incentive’Jackpot’

LG Electronics pays up to 750% incentives to employees of the H&A business division, which achieved the highest performance last year. An incentive amount of KRW 1 million will be provided to employees in the mobile division who have undergone a full review of the business.

LG Electronics announced on the 16th that it has recently discussed with the labor union to determine the management incentives in 2020 and informed its members through company bulletin boards and briefing sessions for each division.

The H&A division’s incentive payment rate (based on basic salary) was set at 750% for the Kitchen Appliance Division (refrigerator, dishwasher, etc.) and Living Appliance Division (washing machine, dryer, styler, etc.). This is the highest of all LG Electronics performance pay cases.

For example, if a responsible employee in the Kitchen Division and Living Division is currently receiving 80 million won in annual salary, they will receive a maximum of 30 million won (before tax) as an incentive.

The air solution division (air conditioner, etc.) was set at 600%. The HE division, which is in charge of the TV business, achieved its operating profit target, but did not meet its sales target and competition-related target. TV and AV receive 200% and home beauty 100%.

The mobile (MC) division, which recorded a deficit last year, the automotive electronics (VS) division, and some divisions within the BS division do not receive incentives, but receive an encouragement of 1 million to 3 million won at the beginning of next month.

Incentives are expected to be paid from the 26th, and encouragement money will be paid at the beginning of next month.

Reporter Dayoung Kim [email protected]