Samsung Electronics’ labor and management tentatively agreed to a wage agreement that includes a 5.1% wage increase for the first time in 10 months. Although labor-management conflicts erupted, including the company’s first general strike since its founding in July of this year, which made it difficult to narrow down their differences, an agreement was reached.
On the 14th, Samsung Electronics and the Korea Samsung Electronics Labor Union (Jeonsamno) announced that they had reached a provisional agreement on the 2023-2024 wage agreement. It has been about 10 months since January 16, 2024, when wage negotiations for 2023 and 2024 were merged and conducted anew.
Samsung Electronics’ labor and management agreed to guarantee paid time for union members to participate in union general meetings (training) and to provide all employees with 2 million FamilyNet points that can be used to purchase the company’s products.
In addition, the 5.1% wage increase and expansion of long-term service leave were decided to reflect the existing plan announced in March 2024. In addition, the provisional agreement includes provisions for mutual respect and efforts between labor and management to improve competitiveness and establish cooperative labor-management relations, and to promote joint social contribution activities (CSR) between labor and management.
Jeon Samno plans to hold a vote for or against its members until the 21st.
Samsung Electronics emphasized, “We will use the conclusion of this wage agreement as an opportunity to achieve labor-management harmony and focus on strengthening our business competitiveness.” Jeon Sam-no said, “We will achieve good results in collective bargaining and the upcoming 2025 wage negotiations.”
Reporter Park Hyeon-ik beepark@donga.com
Source: www.donga.com
