Employees at Samsung and Hynix in South Korea have performance bonuses in the tens of millions of Korean won, and they are all buying homes, watches, and luxury cars.

BlockBeats News, June 17 — According to South Korea's "JoongAng Daily" on the 17th, due to employees of Samsung Electronics and SK Hynix receiving performance bonuses worth hundreds of millions of Korean won, housing demand has surged, and the prices of some apartments have increased by 100 million to 200 million Korean won. High-end imported car dealerships are also crowded with semiconductor company employees. At an imported car dealership in Banpo-dong, Seocho-gu, Seoul, sales representative Mr. Choi said, "Recently, it seems that the number of customers who appear to be Samsung Electronics employees has increased, and most of them are in their 30s to 40s." Employees from large companies collaborating with us for discounts will show work proof, and nine out of ten are from semiconductor companies.

As the peak season approaches, major department stores are also busy welcoming customers. A department store in Banpo-dong, Seoul, will hold an event starting on the 23rd of this month, offering Samsung Electronics employees fast-track access to boutiques, parking vouchers, and restaurant discount coupons. Last month, sales at a branch of Shinsegae Department Store in Korea increased by 16.2% year-on-year, with jewelry and watch sales increasing by 120% and 60%, respectively. During the same period, sales at Hyundai Department Store in Bupyeong increased by 44.7%, and Lotte Department Store in Dongtan also saw a 30% increase. Professor Kim Sang-bong of Seoul National University’s Department of Economics stated, "Semiconductor company employees who received performance bonuses worth hundreds of millions of Korean won are using internal loans to buy houses. We can foresee that this will trigger a chain reaction of increased consumption of relatively expensive durable goods such as televisions."