Samsung chip bonus windfall sparks fresh fears of housing price surge in South Korea
Seoul, May 26 -- Samsung Electronics' newly introduced compensation package for semiconductor employees is raising expectations that additional liquidity could further push up apartment prices across South Korea's semiconductor belt, according to a report by The Korean Herald on Tuesday.
As per the report, Samsung Electronics and its labour union reached an agreement on May 20 to launch a low-interest housing loan programme for employees along with a revised performance bonus system linked to semiconductor profits.
The report said, under the housing support scheme, employees who do not own homes can borrow up to 500 million won (USD 370,000) for purchasing homes and up to 300 million won (USD 199,185) for jeonse deposits at a fixed annu...
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