Samsung to freeze salaries in South Korea

Mar 14, 2015Updated May 25, 20251 min read

Samsung Electronics will freeze wages in 2015 for employees in South Korea for the first time in six years, after the world’s biggest smartphone maker saw profits fall in the face of rising competition.

The cost-cutting move is the latest by Samsung Electronics, which in January reported its first annual profit decline since 2011, as it lost market share to Apple Inc’s new iPhones and cheaper Chinese rivals like Xiaomi Inc.

The wage freeze also comes as the electronics giant is widely expected to unveil its next Galaxy S smartphone at a March 1 event, hoping to revive sales growth momentum.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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