POSCO is planning to drastically revise its current employee compensation system to pay annual salaries which will differ in accordance with the business performance each employee achieved. It will sharply renew the yearly salary structure of its employees and operation standard of the current system in order to make compensation in accordance of the roles of employees, eliminating the seniority system as much as possible. Taking a glance at the new plan for yearly salary structure of the POSCO employees, the ratio of performance payment to the annual salary will be raised from the current 10 percent up to 20 percent. The adjustment of annual salary including basic salary, bonus and performance compensation has been adjusted by the fixed rate so far, but the system will be changed to adjust 50 percent of the annual salary with a fixed rate and remaining 50 percent with the fixed amount.
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