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Samsung employees to get lump sum bonuses this month
Samsung will offer hefty bonuses to its employees of the chip business unit at the end of this month. As reported by industry sources, this bonus will be 50 percent of employees’ respective annual salaries.
The company yesterday informed its executives and employees about the detailed plan for an annual incentive, called the Overall Performance Incentive (OPI).
Obviously, this is not the first time the Korean company is proving such heavy bonuses to its employees. Every year in January, Samsung rewards its executives and employees with up to 50 percent of their salary as a bonus, which is within 20 percent of the firm’s surplus profits.
As per the information, the company’s employees at the device solutions division in charge of the tech giant’s chip business will receive 47-50 percent of their payment, similar to OPI’s around 50 percent last year.
Whereas the Mobile eXperience division workers will get 29-33 percent of their annual salaries, the Network Business division will receive 22-26 percent, the visual display division will be paid 18-22 percent, and the consumer electronics business units workers will get 5-7 of their respective annual salaries.
Samsung’s executive chairman Jay Y. Lee (Lee Jae-yong in Korean) topped the Forbes 2024 Richest Korean list for the first time. On April 17, Forbes revealed that the Samsung boss is the richest in South Korea, with his assets increasing by $3.5 billion, bringing his total net worth to $11.5 billion.
Thanks to a rise in Samsung’s stocks, Samsung’s Lee jumped to the top of the Forbes 2024 Richest Korean list. Notably, the company’s stocks significantly hiked after the revelation that it’s developing high-bandwidth memory chips used in AI computing for NVIDIA.
Forbes 2023 Richest Korean, Kim Byung-ju, slipped to second this year with assets worth $9.7 billion. The third place went to Seo Jung-jin, honorary chairman of Celltrion, with assets of $7.5 billion.
Cho Jung-ho, chairman of Meritz Financial Group, ranked fourth with $6.2 billion, and Chung Mong-koo, honorary chairman of Hyundai Motor Group, was fifth with $4.6 billion.
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Samsung established an AI chip design-dedicated Advanced Processor Lab in Silicon Valley, US. Formerly known as the Advanced Institute of Technology, Samsung’s SAIT is said to have formed the new Lab to strengthen its AI chip R&D in the US.
BusinessKorea reports that the new Samsung Advanced Processor Lab to focus on developing next-gen AI semiconductor design assets in the US. The assets are said to be focused on the RISC-V area, which serves as a foundational design asset for semiconductor chip design.
Samsung’s initiative with RISC-V is interpreted as a move towards technological independence. Therefore, the company is expanding its R&D organization in Silicon Valley, aiming to enhance design capabilities to disrupt the market currently dominated by NVIDIA.
Amid the booming AI era, the market of advanced semiconductors is also expanding. Samsung has completed the development of its Mach-1 AI semiconductor and supplied prototypes to global firms including Korea’s Naver. The company has also started the development of Mach-2.
Under the CHIPS Act, Samsung received huge subsidies to boost investment in the US. It’s worth noting that the Biden govt awarded a 12% subsidy of Samsung’s total investment, which is significantly higher than Intel and TSMC’s subsidy.
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Samsung’s first 3nm Exynos 2500 chip could outpace Snapdragon 8 Gen 4 in power efficiency. Both chipsets will power the next-gen Galaxy flagships, scheduled for an early 2025 launch. Recent input suggests that Exynos is returning as a tough rival to Snapdragon.
The Exynos 2500 will be made on Samsung’s 2nd-gen 3nm process technology. The S24’s Exynos 2400 chipset impressed the industry with significant improvements over its predecessor. The company appears to be leveling up the game next year.
Thanks to the cutting-edge process node, Samsung’s next Exynos could finally surpass its Snapdragon counterpart in power efficiency. The company may utilize its advanced FOWLP in the Exynos 2500 to make it run at higher clock speeds at the same power consumption level.
Qualcomm is facing power efficiency concerns with its recent Snapdragon chips. Due to reduced efficiency, phone makers are forced to bring up to 5000mAh battery. Samsung apparently seized this opportunity to bring back its in-house Exynos back to the contest.
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