Samsung electronics jacks up fringe benefits

Samsung Electronics Co., the country's top firm by sales, has increased fringe benefits for its employees over the past three years, data showed on Friday. According to the data on its regulatory filings, the electronics arm under Samsung Group spent 1.62 trillion won (US$1.52 billion) worth of fringe benefits in 2010, 1.99 trillion won in 2011 and 2.48 trillion won in 2012. The proportion of fringe benefits to sales also rose to 1.23 percent in 2012 from 1.21 percent in 2011, 1.05 percent in 2012, according to the data. Fringe benefits usually refer to any non-wage payment or benefit granted to employees by employers. Those benefits include pension plans, vacation pay, and company-paid life, health and unemployment insurance. Meanwhile, the company's total wage payment increased to 13.63 trillion won in 2012 from 11.38 trillion won in 2010 in line with an increase in the number of workers, the data showed