Samsung to Implement New Incentive System

The Samsung corporation announced on April 20 that they will implement a new incentive system called 'golden gate', which will reward employees whose suggestions create new business opportunities.
The golden gate, which means the golden gate to success, is an incentive system intended to stimulate new business ideas.
Samsung will offer the successful employee money, personnel, and the management support needed to embark on a new business.
In addition, successful employees will also receive stock options.
If a worker does not want to implement a business plan, the corporation will undertake that directly and give 1 to 3 percent of profits gained through the business operation to him or her.
Samsung will set up an investment potential committee for the golden gate program and plans to pay compensation money from 20,000 up to 5 million won.
Jangsoo Seo:jsbee@joongang.co.kr