Kakao Union Seeks 10% of Operating Profit as Headquarters Faces First Strike Risk

Kakao, one of South Korea’s leading IT companies, is facing the possibility of its first headquarters strike since its founding. According to mk.co.kr, the Kakao branch of the Korean Chemical, Textile and Food Workers’ Union has demanded that at least 10% of operating profit be allocated as bonuses, similar to the case of SK Hynix. The demand comes as shareholder concerns are already growing, adding pressure to labor-management relations. Because this is the first strike risk at Kakao’s headquarters since the company was established, the outcome of negotiations could affect both employee compensation practices and shareholder confidence. Source: mk.co.kr.