11st Signs Labor-Management Wage Agreement... Agrees on Average 9.5% Increase

On the 6th, 11st held a wage agreement ceremony attended by President Lee Sang-ho and Labor Union Chairman Ye Byeong-hak.

[Asia Economy Reporter Lim Chun-han] On the 14th, 11st announced that labor and management have reached a wage agreement, agreeing on an average wage increase of about 9.5%.

Labor and management agreed on a uniform fixed increase of 5 million KRW for development positions and 2.5 million KRW for non-development positions, combined with the 2021 annual salary adjustment plan, resulting in an average wage increase of about 9.5%.

Recently, as many IT companies including those in the e-commerce industry are competitively entering the developer recruitment market, 11st has guaranteed top-level treatment for outstanding talent by proposing a wage increase of about 12.7% for development positions, exceeding the industry average through this wage agreement.

Lee Sang-ho, CEO of 11st, said, “There were many difficulties in reaching the (wage increase agreement) result, but through consensus for the happiness of both the company and its members, we achieved the agreement,” adding, “Although this year presents tough competitive environments and challenges, with the passion of our members and a customer-centric mindset, it will be a year to achieve meaningful results leading the e-commerce industry.”