Samsung Engineering Labor Union, Tentative Agreement on 2.1% Basic Salary Increase... Signing Ceremony on the 1st

Labor requests 5.5% increase, applies for Central Labor Relations Commission dispute mediation
Provisional agreement at 2.1% after one week of negotiations

The labor and management of Samsung Engineering have tentatively agreed on this year's wage agreement, which includes a 2.1% increase in the base salary.

On the 31st, the Samsung Engineering Labor Union &U (NU) of the Korean Metal Workers' Union announced that they had reached a tentative agreement on this year's wage agreement with the management. They also announced that the signing ceremony will be held on the 1st of next month at the Samsung Engineering GEC headquarters in Sangil-dong, Gangdong-gu, Seoul.

The labor and management agreed on a 2.1% increase in base salary, an increase in performance raise rates, an upward adjustment of the pay zone (wage range), application of 2 days of refresh leave, inclusion of holiday travel expenses in the merit pay, and an increase in domestic dispatch allowances.

This year's wage negotiations began with a labor-management meeting on December 28 last year and were held 17 times until the 10th of this month. The union demanded a 5.5% increase in base salary and 3 days of refresh leave.

On the 10th, the union criticized, "Despite achieving the best performance since the management crisis in 2013, it is wrong to be cautious of affiliated companies (Samsung Electronics) during wage negotiations," and applied for dispute mediation at the Central Labor Relations Commission. According to the union, after a week of intensive negotiations, a tentative agreement was reached.

Kim Bong-jun, the union chairman, said, "Although there were crises such as breakdowns in negotiations, the achievement lies in reaching a smooth agreement through peaceful dialogue between labor and management."