▲Samsung Electronics shareholders: Performance bonuses are a shareholder prerogative — lawsuit if paid without shareholder meeting approval
A shareholders’ group at Samsung Electronics has moved to block special performance bonuses included in a tentative labor-management agreement.
They argue that allocating such bonuses falls within shareholders’ authority and have vowed to sue to void the agreement if the payments proceed without approval at a shareholders’ meeting.
On May 22, the Korea Shareholders Movement held a press briefing in front of the Supreme Court in Seoul’s Seocho District and warned it would pursue legal action, saying the special bonus arrangement between Samsung and the labor union could run afoul of the Commercial Act.
The group maintained that the method for awarding the bonuses is a matter for shareholders and would be invalid if implemented without a shareholder vote.
▲Justice Ministry orders Supreme Prosecutors’ Office to report Starbucks purchases
Amid continuing controversy over Starbucks Korea’s \”Tank Day\” marketing, the Justice Ministry reportedly instructed the Supreme Prosecutors’ Office to disclose records of Starbucks product purchases.
On May 22, legal sources said the prosecution division at the Justice Ministry recently ordered the Supreme Prosecutors’ Office to report any purchases of Starbucks products made with the office’s budget from January of this year through the present.
The ministry reportedly excluded ordinary coffee purchases and requested records only for items such as Starbucks tumblers, gift cards, and e-gift vouchers. Observers say the move is intended to prevent the Supreme Prosecutors’ Office from offering Starbucks products as prizes amid public criticism of the company.
The Supreme Prosecutors’ Office confirmed it had no records of purchasing Starbucks products this year and informed the Justice Ministry.
▲[June 3 pick] Han Dong-hoon: Park Min-sik has effectively aligned with Ha Jung-woo — Park has no chance of winning
Independent candidate Han Dong-hoon, running in the Busan Buk-gu Gap by-election, targeted People Power Party candidate Park Min-sik, saying Park has no realistic chance of winning and has effectively aligned with Democratic Party candidate Ha Jung-woo.
On May 22, Han posted on Facebook that Park Min-sik has no prospect of victory, so Park has effectively united with Ha Jung-woo rather than with him.
Han directed his criticism at both his conservative rival Park and the leadership faction within the People Power Party.
He alleged that the leadership faction led by Jang Dong-hyuk and Park are running a campaign solely to prevent Han’s election—leaving Ha untouched while directing attacks exclusively at Han.
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- Samsung Electronics shareholders: Performance bonuses are a shareholder prerogative — lawsuit if paid without shareholder meeting approval
- [June 3 pick] Han Dong-hoon: Park Min-sik has effectively aligned with Ha Jung-woo — Park: He lies after failing to beg
- Justice Ministry orders Supreme Prosecutors’ Office to report Starbucks purchases
- [Local election scene] Oh Se-hoon — what he said when his mic went off during a campaign speech at Guro Market, etc. [5/21 (Thu) Dailian After-Work News]
- Samsung post-adjustment talks collapse…Ruling party: Neither side is solely to blame vs. Opposition: Stop the rampage, etc. [5/20 (Wed) Dailian After-Work News]
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