Chairman Kim Yong-taek and Others Begin 3-Year Term
[Asia Economy Reporter Park Sun-mi] The NH Nonghyup labor union has taken a stand with the slogan of a 'wise and practical struggle' aimed at normalizing salaries and improving unfair promotion and welfare systems.
According to the financial sector on the 14th, the National Financial Industry Labor Union NH Nonghyup Branch, under the leadership of Chairman Kim Yong-taek, has formed a new executive team and begun a three-year term. The total number of union members in the Nonghyup branch is about 15,000, including employees from Nonghyup Central Association, Nonghyup Economic Holdings, Nonghyup Financial Holdings, Nonghyup Hanaro Distribution, Nonghyup Bank, Nonghyup Life Insurance, Nonghyup Non-Life Insurance, and Nonghyup Grain, among other affiliated Nonghyup organizations.
Normalizing salaries in line with record-high profits is a challenge that the union at the Nonghyup group level must address.
The union, judging NH Nonghyup's reality of expanding recruitment below grade 6 rather than grade 5 (university graduate) hires as a 'trick to hire excellent talent at low wages,' argues that the position grades below grade 5 need to be raised. Since the justification for seniority-linked position grades has already been lost due to the breakdown of work boundaries, they explain that the previously hidden position grade table should be revealed and that position grades below grade 5 should also be integrated by years of service to receive fair wages. They also plan to strive for performance bonuses (PS) based on excess profits by corporation and inclusion of existing overtime pay in the ordinary wage calculation.
The union also plans to work toward subdividing the promotion system (automatic promotion, selective promotion, etc.) based on an increase in the number of promotions. They pointed out that during the era when promotion exams existed, about 60 to 100 union members were promoted quickly each year through appointment exams, but with the abolition of promotion exams, that number has become extremely small. The plan is to widen the promotion pathways so that union members can seize promotion opportunities.
Furthermore, they will work on improving employee welfare through measures such as establishing a one-year self-development leave system, expanding the coverage of group accident insurance, increasing welfare points, and converting them to tax-exempt status. Kim Tae-hyun, Policy Director of the NH Nonghyup labor union, said, "We will do our best to find wise methods of struggle to enhance the rights and happiness of union members," adding, "Especially in the COVID-19 era, we will also focus on resolving the difficulties faced by union members related to this."
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