[Asia Economy Reporter Park Sun-mi] Samsung Electronics' labor and management have reached a final agreement on wage negotiations that lasted for 10 months.
According to the industry on the 8th, Samsung Electronics will conclude the wage agreement negotiations between labor and management, which have been ongoing since October last year, and plans to hold a wage agreement signing ceremony on the 10th. This is the first time that Samsung Electronics' labor and management have signed a wage agreement.
The joint bargaining group composed of four labor unions within Samsung Electronics recently approved the '2021~2022 Wage Negotiation Tentative Agreement' with the company through a vote of union members. So far, labor and management have conducted a total of 31 collective bargaining sessions, including 11 main negotiations and 20 working-level negotiations.
The final agreement does not include additional wage increases such as a uniform 10 million KRW annual salary increase for all employees and a 25% performance bonus based on annual operating profit, which the union had demanded. However, the number of days for the 'Holiday Consideration Allowance' paid to employees who work during the holiday period will be increased from 3 days to 4 days, and for this year only, if the newly established 'Recharge Leave 3 days' at the beginning of this year is not used, annual leave allowance will be compensated. It was also agreed to form a labor-management task force (TF) to improve the wage peak system and rest system.
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