Tentative Agreement Reached After 48 Days of Wage Negotiations
Labor-Management Joint Task Force to Improve Performance Bonus System
Samsung Electronics labor and management have finalized this year's wage and collective bargaining agreement. In addition to an average wage increase rate of 5.1%, 30 company shares will be given to all employees, and a task force (TF) will be operated to improve the performance bonus system.
Samsung Electronics announced on the 24th that it reached a tentative agreement on the 2025 wage and collective bargaining agreement with the National Samsung Electronics Labor Union (hereinafter Jeonsamno). It took about 48 days since the start of wage negotiations on January 7. Samsung Electronics explained that the collective bargaining, which has continued since last year, was also completed concurrently with this wage negotiation.
The average wage increase rate agreed upon by labor and management is 5.1%. In addition, 2 million points for the Family Net Mall, which can be used to purchase company products, and 30 company shares will be given to all employees, and a 'labor-management joint TF' will be operated to improve the performance bonus system. Employees with three or more children will have a systematized reemployment after retirement.
Samsung Electronics labor and management emphasized the significance of completing the wage agreement for 2023-2024 with this agreement. Jeonsamno plans to conduct a union member vote on the tentative agreement by the 5th of next month.
A Samsung Electronics official stated, "We will take the settlement of the wage and collective bargaining agreement as an opportunity for labor-management harmony and focus on strengthening business competitiveness." Jeonsamno said, "We will continue to fulfill our role as the representative negotiating union."
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