Ssangyong Cement Union Delegates Wage Adjustment to Management... 56-Year Tradition of No Labor Disputes

Ssangyong Cement has signed the 2020 wage agreement. From left, Donghwan Choi, Chairman of the Ssangyong Cement Labor Union, and Saseung Hong, Chairman of Ssangyong Cement.
[Photo by Ssangyong Cement]

[Asia Economy Reporter Kim Jong-hwa] The Ssangyong Cement Labor Union has entrusted this year's wage negotiations to the company in order to overcome the crisis caused by the spread of COVID-19 together and prepare for the post-COVID era.

On the 7th, Ssangyong Cement signed the "2020 Wage Agreement" delegating all authority regarding this year's wage adjustment to the company, with labor and management representatives including Chairman Hong Sa-seung and Labor Union Chairman Choi Dong-hwan in attendance.

Chairman Choi stated, "Although the company has achieved meaningful management results, such as maintaining the only double-digit operating profit margin in the domestic cement industry for several years, it has faced internal and external difficulties due to the unexpected spread of COVID-19. We have chosen this beautiful partnership for mutual growth to wisely overcome these difficulties and further support the company in becoming a top-tier sustainable development enterprise in the post-COVID era."

Meanwhile, Ssangyong Cement has maintained 56 consecutive years of labor peace since the labor union was founded in 1964, based on a cooperative labor-management culture of coexistence and harmony.