[Alpha Biz=(Chicago) Reporter Paul Lee] LG Group had mixed feelings about performance-based bonuses for each affiliate. LG Energy Solutions and LG Chem, which operate electric vehicle batteries and battery materials businesses, overwhelmed other affiliates.
LG Electronics, which used to be a cash cow, drew attention as its electronics business has a larger performance-based bonus than TVs and home appliances.
According to the industry on the 2nd, LG Energy Solution decided to pay an average of 870% of its basic salary as a bonus this year.
This is the largest among LG Group affiliates. LG Energy Solution was able to give a lot of incentives to its employees by performing well last year. LG Energy Solutions' operating profit rose more than 57.9 percent year-on-year to surpass 1 trillion won last year.
LG Chem's performance-based bonuses are known to be 735% of the basic salary for high-tech materials, 352% for petrochemicals, and 495% for life sciences.
LG Electronics had a large performance-based bonus for its battlefield (VS) business headquarters, which succeeded in turning into a surplus for the first time in seven years last year. VS received 550% of the basic salary, home appliances (H&A) received 250-300%, TV (HE) received 100-130%, and business-to-business (BS) business headquarters received 100-250%.
In addition, LG Innotek is known to have 500% to 700% of the basic salary, 300% to 430% for LG CNS, 200% to 250% for LG U+, and 100% for LG Household & Health Care.
Alphabiz Reporter Paul Lee(hoondork@alphabiz.co.kr)
