Kolon Trading Co. Shares its Success

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Kolon Trading Co. Shares its Success

Kolon Trading Co. gave a special, and even historic, prize to its employees on March 2.
The prize derived from a new system called 'BOSS' employed by the trading company that in effect brings the first profit sharing scheme between a company and its employees to Korea.
If employees at Kolon Trading Co. accomplish 105~150 percent of their targets, they receive up to 15 percent of the company's pure profits as a performance bonus.
If they accomplish 150~200 percent of their targets, they can earn 17.5 percent of pure profits. In the event of exceeding their sales goals by 200 percent, they can divide 22.5 percent of the profits between them.
Kolon introduced a new profit sharing system in August of last year. As of now, 17 teams in the company applied for the new system, and from this year the company will enlarge the system for the entire company.
A source at the company commented, 'The new profit sharing system will raise employees' morale, and naturally result in a restructuring of the company.'
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