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The median annual salary for Naver employees topped 100 million won for the first time last year. The median annual salary was 12.48 million won, 21% more than the previous year. Employees are entering the Naver headquarters building in Bundang, Seongnam, Gyeonggi-do. Reporter Huh Moon-chan [email protected]
There is a catastrophic change in the salary classification of large corporations. The non-contact fever caused by the new coronavirus infection (Corona 19) is the shock that led to the war to recruit software developers. The median annual salary for employees like Kakao, Naver NCsoft, a leading technology company, surpassed 100 million won for the first time last year. The annual salaries of large traditional companies such as SK Energy, which held the position of ‘salary king’ in 2019, and Hyundai Motor Company, Samsung C&T and Lotte Chemical have started to decline.
As a result of the analysis of the average annual salary of 20 large conglomerates presented by the Korea Economic Daily on the 19th, the average annual salary of the employees of BBIG (battery bio game internet) companies such as Naver Kakao NCsoft, Celltrion, Samsung Biologics, LG Chem, Samsung SDI, etc. It was last year and it was up 6-35% compared to the same period. The annual salary of IT (information technology) companies has increased significantly. The median annual salary for Kakao employees last year was 180 million won, 35% more than the previous year. NCsoft (15.5 million won, 22%) and Naver (12.48 million won, 21%) also joined the ranks of the 100 million won per year.
The median annual salary of these three companies closely follows Samsung Electronics and SK Telecom, which have been at the top of the list for a long time. The average annual salary last year was 127 million won for Samsung Electronics and 121 million won for SK Telecom. A management official said: “As the boundaries between industries are falling, the platform companies that have expanded their territory are attracting excellent workforce in the industry with their ‘unprecedented salary’ as a weapon.” Employees at Samsung Electronics and SK Telecom average 12 years of service, while Naver Kakao NCsoft averages only 5 years.
SK Energy employees, who received the highest annual salary among large national companies, could not avoid Corona 19. Due to falling international oil prices, SK Energy posted an operating deficit of about 2 trillion won. last year. Last year, the average annual salary of SK Energy employees registered 121 million won, a decrease of 8% compared to the previous year. The average annual salary of Hyundai Motor Company employees also decreased by 8% to 88 million won. In 2019, the median salary increased to 96 million won, but fell again due to the effect of Corona 19. Hyundai Motor Company paid for employee stock ownership when the incentive scale decreased compared to the previous year due to Corona 19 last year.
Kim Yong-chun, head of the employment policy team at the Korea Economic Research Institute, said: “The boundaries between industries are collapsing, but the development and education of talented people cannot follow, and a ‘ labor shortage for development ‘. It’s happening. “
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Gaming companies and short service platforms received more than 100 million
Coupang opened a new developer ‘Was 60 million won in starting salary’ last month. A 50 million won bonus was offered for hiring a job with a development experience of 5 years or more. Nexon and Netmarble announced that they would increase the annual salary of all employees by 8 million won to protect the ‘domestic rabbit’. Then, Krafton, a game company, increased the annual salaries of developers and non-development workers by 20 million won and 15 million won, respectively. The starting salary for a developer was 60 million won according to new college graduates. NCsoft also added. An annual salary increase of 13 million won + α was announced for the developer group and 10 million KRW + α for the non-development group. CEO Taek-jin Kim also paid 8 million won for “special incentives.” The upper limit of the starting salary for new college graduates has also been removed. The 55 million won starting salary for development workers is the lower limit. The gaming industry’s ‘serial pay increase’ was analyzed to prevent the rotation to ‘Nekarakubae’ (Naver, Kakao, Line, Coupang, Baedal folks), which is known to have a good deal as a developer.
○ Coupangbal salary increase
In line with changes in the industrial structure, the employment structure in Korea is changing from the Japanese-style annual supply system to the American-style bonus system. In the process, differences of opinion between management and employees also increase. This is because there is no clear answer between the employment system, which provides exceptional incentives while dismissal is relatively free, and the annual supply system, which emphasizes seniority and guarantees retirement age.
Complaints from employees of information technology (IT) manufacturing companies are increasing. Yang Joon-mo, professor of economics at Yonsei University, said: “Game and platform companies are business structures that can create great added value even with small individual ideas, but traditional manufacturing companies rely heavily on the company’s capital devices and Compared to small platform and gaming companies, manufacturing companies with large and complex organizations have difficulty improving the salary system considering seniority and interdepartmental characteristics. “
○ Influence on salary negotiations
Following the dispute between workers and SK Hynix management over the incentive pay system, Samsung Electronics workers and management are also experiencing difficulties in salary negotiations this year. Management is reported to have insisted that this year’s wage increase rate is around 3%, and the labor side has insisted around 6%. Last year, Samsung Electronics’ salary increase rate was 2.5%. According to one analysis, the dissatisfaction of Samsung Electronics employees is that the relative deprivation felt by the number of employees relocating to these companies due to serial pay increases in the gaming and platform industry has increased. An employee of Samsung Electronics’ wireless business unit said: “The news that the executive in charge of artificial intelligence (AI) received 1.5 times the annual salary and received a stock option (the option to buy shares) and moved to Coupang. ” is the reason why the answer arises by asking whether compensation should be received adequately in the face of competition with the emerging IT platform industry. “The characteristics of millennials, who have a strong desire to be rewarded for their contributions, they also impact.
The situation is similar for LG Electronics. The average salary per employee listed in the business report was 86 million won last year, after 2019 (86 million won). Last year, LG Electronics posted a record. The LG Electronics and LG Electronics workers union has set a 9% wage increase rate this year. It is the highest rate of increase since 2000. It is an analysis that reflects the judgment that adequate compensation must be made for performance so as not to be deprived of an excellent workforce in a situation where the boundaries between industries are they are collapsing.
○ The pay gap widens even within large corporations
As Corona 19 accelerates the industrial paradigm shift, the labor mismatch intensifies. In this process, the wage gap widens even among large companies. The companies that were directly affected by Corona 19 saw their salary levels stagnate or fell. The average annual salary for Korean Air employees who went on long-term paid and unpaid vacations while the sky was blocked was 68.19 million won, 16% less than the previous year, and Hotel Shilla, which posted the first loss since its inception last year. , was 50 million won, down 15%. Seong Tae-yoon, professor of economics at Yonsei University, analyzed that “The closure and reduction of working hours caused by Corona 19 would have had a direct impact on the reduction of wages of companies damaged by the crown.”
Jae-yeon Ko / Hankyung Economic Daily [email protected]
