LPL » Topics » Item 6.D. Employees

This excerpt taken from the LPL 6-K filed Nov 6, 2009.

B. Employees

As of September 30, 2009, we had 22,467 employees (excluding our executive officers). The total amount of salary paid to our employees for the nine months ended September 30, 2009 based on cash payment was (Won)689,421 million. The following table provides details of our employees as of September 30, 2009:

 

(Unit: person, in millions of Won)
Details of Employees*   Total Salary in
2009 (Q1~Q3) **
  Per Capita
Salary***
  Average
Service Year
Office
Worker
  Production
Worker
  Others   Total      
7,384   15,083   —     22,467   689,421   33.04   4.3

 

* Directors and executive officers have been excluded.
** Welfare benefit and retirement expense have been excluded. Total welfare benefit provided to our employees for the nine months ended September 30, 2009 was (Won)124,871 million and the per capita welfare benefit provided was (Won)6.0 million.
** Based on cash payment.
** Includes incentive payments to employees who have transferred from our affiliated companies.
*** Per Capita Salary is calculated using the average number of average employees (20,867) for the nine months ended September 30, 2009.
This excerpt taken from the LPL 20-F filed Apr 11, 2007.

Item 6.D. Employees

As of December 31, 2006, we had 23,639 employees, including 7,070 employees in our overseas subsidiaries. The following table provides a breakdown of our employees by function as of December 31, 2004, 2005 and 2006:

 

     As of December 31,

Employees(1)

   2004    2005    2006

Production

   8,270    13,119    16,326

Technical(2)

   3,759    4,404    5,759

Sales & Marketing

   436    541    444

Management & Administration

   708    1,299    1,110
              

Total

   13,173    19,363    23,639
              

(1) Includes employees of our subsidiaries.
(2) Includes research and development and engineering personnel.

To recruit promising engineering students at leading Korean universities, we work with these universities on research projects where these students can gain exposure to our research and development efforts. We also provide on-the-job training for our new employees and develop training programs to identify and promote new leaders.

As of December 31, 2006, approximately 63% of our employees, including those of our subsidiaries, were union members, and production employees accounted for substantially all of these members. We have a collective bargaining arrangement with our labor union, which is negotiated once a year. We have never experienced a work stoppage or strike, and we consider our relationship with our employees to be good.

The salaries of our employees are reviewed annually. Salaries are adjusted based on individual and team performance, industry standards and inflation. As an incentive, discretionary bonuses may be paid based on the performance of individuals, and a portion of our operating income may be paid to our employees under our profit sharing plan if certain performance criteria are achieved. We also provide a wide range of benefits to our employees including medical insurance, employment insurance, workers compensation, free medical examinations, child tuition and education fee reimbursements and low-cost housing for certain employees.

Under the Korean Labor Standards Act, employees with one year or more of service are entitled to receive, upon termination of their employment, a lump-sum severance payment based on the length of their service and their average wage during the last three months of employment. We make provisions for accrued severance liabilities based on the assumption that all employees terminate their employment with us at the same time. As of December 31, 2006, our accrued severance liabilities amounted to (Won)136.8 billion (US$147.1 million), of which 39.7% was funded through severance insurance plans, while 0.5% was funded through deposits with the National Pension Corporation.

At December 31, 2006, our employee stock ownership association owned approximately 0.1% of our common stock.

This excerpt taken from the LPL 20-F filed Jun 21, 2006.

Item 6D. Employees

As of December 31, 2005, we had 19,363 employees, including 3,832 employees in our overseas subsidiaries. The following table provides a breakdown of our employees by function as of December 31, 2003, 2004 and 2005:

 

     As of December 31,

Employees(1)

   2003    2004    2005

Production

   5,372    8,270    13,032

Technical(2)

   2,485    3,759    4,404

Sales & Marketing

   342    436    541

Management & Administration

   365    708    1,299
              

Total

   8,564    13,173    19,363
              

(1) Includes employees of our subsidiaries.
(2) Includes research and development and engineering personnel.

To recruit promising engineering students at leading Korean universities, we work with these universities on research projects where these students can gain exposure to our research and development efforts. We currently plan to hire a significant number of college graduates in 2006 and 2007 to work as engineers in our development and production departments. We also provide on-the-job training for our new employees and develop training programs to identify and promote new leaders.

As of December 31, 2005, approximately 68% of our employees, including those of our subsidiaries, were union members, and production employees accounted for substantially all of these members. We have a collective bargaining arrangement with our labor union, which is negotiated once a year. We have never experienced a work stoppage or strike, and we consider our relationship with our employees to be good.

The salaries of our employees are reviewed annually. Salaries are adjusted based on individual and team performance, industry standards and inflation. As an incentive, discretionary bonuses may be paid based on the performance of individuals, and a portion of our operating income may be paid to our employees under our profit sharing plan if certain performance criteria are achieved. We also provide a wide range of benefits to our employees including medical insurance, employment insurance, workers compensation, free medical examinations, child tuition and education fee reimbursements and low-cost housing for certain employees.

Under the Korean Labor Standards Act, employees with one year or more of service are entitled to receive, upon termination of their employment, a lump-sum severance payment based on the length of their service and their average wage during the last three months of employment. We make provisions for accrued severance liabilities based on the assumption that all employees terminate their employment with us at the same time. As of December 31, 2005, our accrued severance liabilities amounted to (Won)112.0 billion, of which 61.0% was funded through severance insurance plans, while 0.1% was funded through deposits with the National Pension Corporation.

At December 31, 2005, our employee stock ownership association owned approximately 0.1% of our common stock.

This excerpt taken from the LPL 6-K filed Nov 14, 2005.

6. Employees

 

(as of Sep. 30, 2005)

  (Unit : person, year, in millions of won)

 

Sex


   Details of employees

  

Total Salary

in 2005
(Q1~Q3)


   Per
capita
Salary


   Average
Service Period


   Office
Worker


   Line
Worker


   Others

   Total

        

Male

   4,633    4,370    —      9,003    262,162    32    3.9

Female

   430    4,052    —      4,482    80,684    21    2.1

Total

   5,063    8,422    —      13,485    342,846    28    3.3

* Director and Executive officers are excluded.


Table of Contents
This excerpt taken from the LPL 20-F filed Apr 11, 2005.

Item 6D. Employees

 

As of December 31, 2004, we had 13,173 employees, including 2,463 employees in our overseas subsidiaries. The following table provides a breakdown of our employees by function as of December 31, 2002, 2003 and 2004.

 

     As of December 31,

Employees(1)


   2002

   2003

   2004

Production

   3,628    5,372    8,270

Technical(2)

   1,886    2,485    3,759

Sales & Marketing

   274    342    436

Management & Administration

   307    365    708
    
  
  

Total

   6,095    8,564    13,173
    
  
  

(1) Includes employees of our subsidiaries.
(2) Includes research and development and engineering personnel.

 

To recruit promising engineering students at leading Korean universities, we work with these universities on research projects where these students can gain exposure to our research and development efforts. We currently plan to hire a significant number of college graduates in 2005 and 2006 to work as engineers in our development and production departments. We also provide on-the-job training for our new employees and develop training programs to identify and promote new leaders.

 

As of December 31, 2004, approximately 61% of our employees, including those of our subsidiaries, were union members, and production employees accounted for substantially all of these members. We have a collective bargaining arrangement with our labor union, which is negotiated once a year. We have never experienced a work stoppage or strike, and we consider our relationship with our employees to be good.

 

The salaries of our employees are reviewed annually. Salaries are adjusted based on individual and team performance, industry standards and inflation. As an incentive, discretionary bonuses may be paid based on the performance of individuals, and a portion of our operating income may be paid to our employees under our profit sharing plan if certain performance criteria are achieved. We also provide a wide range of benefits to our employees including medical insurance, employment insurance, workers compensation, free medical examinations, child tuition and education fee reimbursements and low-cost housing for certain employees.

 

Under the Korean Labor Standards Act, employees with one year or more of service are entitled to receive, upon termination of their employment, a lump-sum severance payment based on the length of their service and their average wage during the last three months of employment. We make provisions for accrued severance liabilities based on the assumption that all employees terminate their employment with us at the same time. As of December 31, 2004, our accrued severance liabilities amounted to (Won)82.0 billion, of which 60.1% was funded through severance insurance plans, while 0.9% was funded through deposits with the National Pension Corporation.

 

At December 31, 2004, our employees owned approximately 0.5% of our common stock through an employee stock ownership association.

 

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