Lee Hae-jin, the founder of Naver, expressed an opinion that he was concerned about competition in the IT industry to raise salaries. It is intended that side effects will occur if the level of compensation is rapidly raised due to the industry atmosphere without sufficient consideration of the relationship between the business and the compensation.
Lee Hae-jin, Naver’s founder and Global Investment Officer (GIO), attended the joint symposium of the Korean Society of Business and Social Sciences held on June 18, 2019 as an interlocutor. Central photo
According to the IT industry on the 14th, Naver Global Investment Manager Hae-jin Lee (GIO) sent an email to all Naver employees on the 12th. The previous day (11th) was an e-mail containing a brief meeting explaining the global challenge strategy online for two hours to in-house employees. He took luck saying, “(At the briefing session) I was too focused on’business’, so I regret that it gave me the impression that I was trying to avoid the hot issue of’compensation’.” It is said that among Naver employees, there was an atmosphere of disappointment when the compensation policy did not come out at the briefing session.
Lee Hae-jin “Business should be better, the final winner of the reward fight”
GIO Lee Hae-jin Reward and business on the front and back of coinsIt was likened to. “The question of’where the boat goes’ and’whether people on this boat will have no regrets’, namely,’business’ and’compensation’, is like the front and back side of the coin, which I have always struggled with the most during my 20 years of work. The essence,” he said. “Without a good business, good rewards cannot be achieved, and a good business cannot be sustained without good rewards.”
However, he did not compete for compensation in the IT industry. I drew a line. “There is a positive part of the industry’s compensation competition now that raises the level of compensation for IT personnel, but each company seems to be competing too quickly without a sufficient explanation of the change or direction of the business, so I am concerned about the aftereffects.” did. It is that’reasonable and orderly rewards are important’.
In the past two months, IT companies in Pangyo Techno Valley have announced plans to increase their salaries one after another. Starting with Nexon (+8 million won, based on developer) on the 1st of last month, Netmarble (+8 million won), Krafton (+20 million won), and NCsoft (13 million won + α) have raised their annual salaries. Here, even famous start-ups raised the atmosphere by offering a’transfer bonus’ unprecedentedly.
Naver, the largest internet company in Korea, Complaint about compensationIt was around this time that this burst came out. However, the management, employees and unions have not been able to narrow the gap. Naver CEO Sung-Sook Han said at an in-house meeting last month, “We reward organizations that showed’movement’ for growth rather than short-term profits.”, “Reward focused on long-term growthWe need this extra,” he said.
Han Sung-sook, Naver CEO, attended the online press conference’Naver Meetup’ on March 2, 2021. Central photo
“If the overseas business that I was trying to do goes down, I will withdraw.”
GIO Hae Jin Hae also said in an email, “If your business is bigger and better, Final winner in a reward fightIt will become,” he stressed the long-term perspective. He added, “When the world now only talks about rewards, we check our business first and think about it first.” He added, “When the business direction is well established and the business goes well, in the end, good rewards are consistently achieved.”
Even at the briefing session the day before, this GIO made it clear his willingness to do business, especially overseas. According to Naver employees, he said, “It is a better decision overseas than domestic when it is necessary to determine where to focus limited technology and planning manpower.” . This GIO is a joint venture between Softbank and Naver on the 1st. Representative Director and Chairman of Japan A HoldingsIn addition, he leads the largest Internet business group in Japan. In the global investment he took directly as a GIO for 4 years, Large M&A in North America and EuropeIt is speeding up by announcing successively.
GIO Haejin Hae Jin said in an email, “Honestly, I want to try to be praised and loved for doing’Haejin hyung shoots’. (syncopation)… A lot of worries and work are being done, and it will take a little time.” He also said, “Please trust our management and staff.”
Reporter Park Soo-ryun [email protected]
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