ST Pharm has continued to achieve a six-year streak of dispute-free settlements in wage negotiations.
ST Pharm recently held the 2023 wage negotiation signing ceremony at the Banwol Campus and announced on the 13th that they reached an agreement on a 5% increase in base wages and an annual increase of 500,000 welfare points. ST Pharm, which achieved record-high sales last year, explained that the management and the union reached this agreement through eight rounds of negotiations from June 7 to August 16.
Moon Jun-mo, head of the ST Pharm branch of the National Chemical, Textile, and Food Workers' Union, stated, “There was a consensus on establishing a sustainable management environment and securing competitiveness in the global pharmaceutical and bio market.”
Kim Kyung-jin, CEO of ST Pharm, said, “I am grateful that labor and management reached a wage negotiation agreement based on trust for the company’s sustainable management,” adding, “By concluding the wage negotiations in a short period, labor and management secured growth momentum without production disruptions.”
ST Pharm was recognized as a model company operating exemplary labor-management relations in 2021 and received the Presidential Award at the Labor-Management Culture Awards. At that time, both sides narrowed differences regarding wage compensation for reduced working hours and the union’s wage freeze delegation through communication and cooperation.
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