SM Vexel Battery Division Concludes Wage and Collective Agreement Without Negotiations for Fifth Consecutive Year

"An Opportunity to Develop a Mutually Supportive Labor-Management Relationship"

SM Group's manufacturing affiliate, the SM Vexel Battery Division, announced on September 18 that it has concluded its wage and collective agreement for the fifth consecutive year without separate negotiations between labor and management.

SM Vexel Battery Division CEO Choi Sehwarn (left) and Labor Union Chairman Ahn Hyoyong are posing for a commemorative photo at the 2025 Wage and Collective Agreement Signing Ceremony held on the morning of the 18th at the headquarters in Gumi, Gyeongbuk. SM Group

On the morning of September 18, the SM Vexel Battery Division held the 2025 Wage and Collective Agreement Signing Ceremony at its headquarters in Gumi, Gyeongbuk. The event was attended by CEO Choi Sehwarn, Labor Union Chairman Ahn Hyoyong, as well as representatives from both labor and management and other employees.

Since 2021, the SM Vexel Battery Division has reached its annual wage and collective agreements without negotiations. SM Group expects that this will further develop the relationship between labor and management into a mutually supportive partnership, creating sustainable growth and diverse value.

CEO Choi stated, "Achieving a wage and collective agreement without negotiations for five consecutive years was made possible by the foundation of trust that allows all employees to grow together." He added, "Building on this, we will unite our efforts to pursue management goals such as developing high-efficiency solutions, introducing eco-friendly processes, and strengthening global competitiveness, with innovation, responsibility, and sustainability as our core values." He further emphasized, "We will not only establish a healthy labor-management relationship but also accelerate ESG (Environmental, Social, and Governance) management in collaboration with our partners and the local community."