Samsung Display Labor and Management Agree on 5.1% Wage Increase for This Year

"Three Consecutive Years of Negotiation Settlements Through Dialogue... Future-Oriented Labor-Management Relations"

Samsung Display announced on the 16th that it held the 2024 wage agreement signing ceremony at its Asan 1 Campus in Chungnam, attended by labor and management representatives and negotiation committee members.

Han Jun-ho, Executive Director and Head of the People Team (left), and Yoo Ha-ram, Head of the Open Labor Union Branch, who attended the '2024 Wage Agreement Signing Ceremony' held at Samsung Display Asan Campus 1 on the 16th, are taking a commemorative photo.
[Photo by Samsung Display]

This year's average wage increase rate was agreed upon at 5.1%, which is 1.0 percentage point higher than last year (basic increase rate 3%, performance increase rate 2.1%).

The labor and management parties began negotiations in January and reached a tentative agreement on the wage agreement on the 4th of this month after eight rounds of negotiations. Subsequently, a vote was held among union members, and the agreement was approved with a 75% approval rate.

Samsung Display has reached wage agreements through labor-management dialogue for three consecutive years since 2022.

Han Junho, Executive Director and Head of the People Team at Samsung Display, said, "We appreciate the negotiation committee members from both labor and management who achieved a dispute-free agreement through continuous communication," adding, "The way Samsung Display's labor and management have demonstrated this year symbolizes a win-win labor-management culture, and the company will continue to strive to build a mutually developmental labor-management relationship."