Industry

Samsung Electronics expands stock bonus option to all staff, scraps mandatory rule for executives

Samsung Electronics has abolished a rule that required executives to take performance bonuses in its own shares and has expanded the stock-based compensation option to all employees. Under the revamped scheme, staff can choose to receive 0 to 50 percent of bonuses in shares, or take the full amount in cash. Those opting to hold shares for a year receive an additional 15 percent. Bonuses are due on Jan. 30.

Finance

Lucentblock says its STO technology stolen after seven years, files complaint with FTC

Lucentblock said it was unfairly treated in the financial authorities’ approval process for an over-the-counter token securities (STO) exchange and filed a complaint with South Korea’s Fair Trade Commission. CEO Se-young Heo alleged NextTrade approached the firm under the pretext of investment, signed an NDA, obtained key technology and other sensitive information, then scrapped the contract and applied for approval on its own. Lucentblock said rejection would effectively force it to shut down.