South Korea's Samsung and SK Hynix Employees Receive Performance Bonuses Totaling Hundreds of Millions of Korean Won, Splurging on Homes, Watches, and Luxury Cars

BlockBeats News, June 17th. According to the South Korean newspaper Chosun Ilbo, on the 17th, due to Samsung Electronics and Hynix employees receiving hundreds of million Korean won in performance bonuses, the demand for home purchases has surged, and the prices of some apartments have increased by 100 million to 200 million Korean won. High-end import car dealerships are also crowded with semiconductor company employees. At an import car dealership in Paldang-gu, Seoul, salesperson Mr. Choi said, "Recently, the number of customers who appear to be Samsung Electronics employees has increased, most of them are aged between their 30s and 40s. Major company employees who have discount partnerships with us will show their work IDs, and among every ten people, nine are from semiconductor companies."

As the peak season approaches, major department stores are also busy welcoming customers. A certain department store in Paldang-gu, Seoul, will hold an event starting on the 23rd of this month, providing Samsung Electronics employees with a fast-track entry to luxury boutiques, parking vouchers, and restaurant discount coupons. Last month, sales at a branch of a South Korean Shinsegae Department Store increased by 16.2% year-on-year, with jewelry and watch sales up by 120% and 60% respectively. During the same period, sales at Hyundai Department Store's Banpo branch grew by 44.7%, and Lotte Department Store's Yeongdeungpo branch saw a 30% increase in sales. Hanseong University economics professor Kim Sang-bong stated, "Semiconductor company employees receiving hundreds of million won in performance bonuses are using internal loans to purchase homes. We can foresee this triggering a chain reaction of increased consumption of relatively expensive durable goods such as TVs."