Wage Increase Focused on Fixed Salary, Resolving Low-Wage Structure in Shipbuilding Industry
First Step Toward Establishing a Job-Based Compensation System... Enhanced Job-Based Compensation
The labor and management of Hanwha Ocean have successfully concluded wage negotiations for 2025.
Based on mutual trust and cooperation, Hanwha Ocean's labor and management reached an agreement on wage negotiations before the summer vacation, enabling the company to establish a stable production environment for the second half of the year.
They achieved the result of eliminating the wage gap with other companies in the same industry and establishing a wage system at an equivalent level. Additionally, a compensation system based on job difficulty was established, marking the first step toward an advanced job-based compensation structure.
Most importantly, by finalizing negotiations before the summer vacation, Hanwha Ocean's labor and management eliminated business uncertainties. This has laid the foundation for both parties to focus on production in the second half of the year, based on mutual growth.
It is also noteworthy that the company has substantially closed the wage gap with industry peers through the largest-ever increase in base salary. The base salary increase is expected to not only boost morale among Hanwha Ocean employees but also have a positive effect on retaining talent.
A new job-based compensation system reflecting job difficulty was also established. The discussions between labor and management, which have continued for the past 10 years, have finally produced tangible results. This is significant as it marks the starting point of building a fair compensation system that respects the 'value of work,' going beyond a simple wage increase.
A Hanwha Ocean representative stated, "This year's collective bargaining is a valuable achievement created by mutual respect and continuous communication between labor and management," adding, "We will continue to take the lead in strengthening the company's global competitiveness through ongoing cooperation between labor and management."
In a vote held among union members on the 24th, the negotiation proposal agreed upon by labor and management was finalized with 61.7% in favor, concluding this year's wage negotiations.
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