LG Innotek is reportedly planning to pay performance bonuses of up to 523% of base salary by business unit.
On the 2nd, LG Innotek held a CEO communication event for employees and announced the performance bonus payout rates by business unit.
By business unit, the Optical Solutions division, which handles camera modules and more, will receive the maximum of 523%. The Package Solutions division, which is in charge of semiconductor substrates, is set at 402%, and the Mobility Solutions division, which produces components for automotive electronics and electrical equipment, is set at 325%.
This year's bonuses are significantly higher than last year's; last year the three divisions paid 380%, 230%, and 260%, respectively. LG Innotek operates its bonus program by comprehensively reflecting achievement of sales and operating profit targets and competitive performance.
These management performance bonuses are scheduled to be paid on the 6th. LG Innotek's full-year operating profit last year was 665 billion won, down 5.8%, while revenue rose 3.3% year over year to 21.8966 trillion won.