Samsung Electronics, First Labor-Management Wage Agreement... Expansion of Holiday Consideration Payments, etc.

Agreement Signed at Giheung Campus on the 10th

The scene of the Samsung Electronics wage agreement signing ceremony held on the 10th at the Samsung Electronics Giheung Campus Nanopark. From the left, Son Woo-mok, Vice Chairman of the Joint Labor Union Negotiation Team, Kim Hang-yeol, Chairman of the Joint Labor Union Negotiation Team, Choi Wan-woo, Head of HR Team in the DS (Semiconductor) Division, and Shin In-cheol, Samsung Electronics Negotiation Representative. (Photo by Samsung Electronics)

[Asia Economy Reporter Moon Chaeseok] Samsung Electronics announced on the 10th that it has signed the 2021 and 2022 wage agreements with the joint labor union bargaining group.

Samsung Electronics and the joint labor union bargaining group signed the wage agreement on the morning of the same day at the Giheung Campus Nanopark, with the attendance of Choi Wan-woo, Vice President and Head of HR Team of the DS (Semiconductor) Division, Shin In-cheol, Samsung Electronics' chief negotiator (Executive Director), Kim Hang-yeol, Chairman of the Samsung Electronics Labor Union Joint Bargaining Group, Lee Jae-shin, Chairman, Kim Seong-hoon, Chairman, and Son Woo-mok, Vice Chairman.

The labor and management agreed to apply the results of the company's 2021 and 2022 wage and welfare adjustments. They also agreed to expand the holiday consideration allowance and compensate for unused recharge leave only for 2022.

Additionally, they agreed to form a 'Labor-Management Win-Win Task Force (TF)' to discuss system improvements aimed at enhancing employees' work-life balance (WLB) and job satisfaction, and to continue cooperating to establish a culture of mutual growth between labor and management.

In a situation where the business environment uncertainty for global companies is increasing, both labor and management expect that this first wage agreement will serve as an opportunity to establish a future-oriented and progressive advanced labor-management relationship based on mutual trust.

Choi Wan-woo, Vice President and Head of HR Team of the DS Division, said, "As partners in mutual growth, I hope we can draw a progressive future together through sincere communication and cooperation."