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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] Samsung Electronics announced on the 14th that it has reached a tentative agreement with the Korea Samsung Electronics Union (전삼노) on the 2023-2024 wage negotiations.
The agreement includes a commitment to provide 8 hours of paid time for union members to attend union meetings (training) and the distribution of 2 million FamilyNet points to all employees, which can be used for purchasing the company's products. The total value of this is approximately 250 billion KRW, based on 125,000 employees. The points are valid for 2 years from the issuance date.
In addition, the agreement includes an average wage increase of 5.1% (3.0% base increase and 2.1% performance-based increase), as well as expanded long-term service leave, which will follow the terms announced earlier this year in March. The tentative agreement also emphasizes fostering mutual respect and efforts between the union and management to enhance competitiveness and build a collaborative labor-management relationship. It also includes commitments to corporate social responsibility (CSR) activities for social contribution.
The union will hold a vote for its members until the 21st of this month to approve the tentative agreement. If the agreement is approved by the members, the wage negotiations will be finalized.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
