Samsung Electronics reduced its spending on wages last year by 0.3 per cent to KRW9.3 trillion ($8.44 billion) despite expanding its workforce 3.7 per cent to 99,386.

The company announced earlier it is freezing pay for its employees this year, although performance incentives, which depend on profits, will not be affected, Yonhap news agency reported.

The company, whose profit fell 23 per cent year-on-year to KRW23.4 trillion last year, also reduced its advertising spending by 26 per cent to KRW734.8 billion, according to market tracker Chaebul.com.

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