Contrary to the world. The change comes at a time when countries around the world are testing the 4-day working day, such as New Zealand, which started the movement in 2019, followed by several countries in Europe, Africa and the Americas under the management of the 4-community. Day Week Global.
What is the objective of increasing working hours?
Reassessment of strategies. Executives will review their business strategies and may modify them to adapt to changes in the business environment, in a context of increasing geopolitical risks due to the prolonged war between Russia and Ukraine and escalating tensions in the Middle East.
Crisis. The moment of strong devaluation of the won, the Korean currency, rising oil prices and high loan costs worsen business uncertainties, according to the newspaper The Korea Economic Daily.
Billionaire loss. In 2023, Samsung Electronics recorded an operating loss of 15 billion won (or US$11 billion) in its main semiconductor business. The Device Solutions division, which oversees the semiconductor business, represents about 80% of Samsung’s profits.
Considering that the performance of our main units, including Samsung Electronics, fell short of expectations in 2023, we are introducing the six-day work week for executives to inject a sense of crisis and make every effort to overcome it.
Samsung Group company executive told The Korea Economic Daily.
