Samsung Electronics workers to sign salary agreement for the first time

Core Tip: The trade union joint consultation group composed of four trade unions within Samsung Electronics recently voted and passed the "2021-2022 Annual Salary Negotiation Temporary Agreement" reached with the company.
Yonhap News Agency reported on August 8 that according to Samsung Electronics labor and management news on the 8th, the two parties finally reached a salary agreement after 10 months of negotiations, and the signing ceremony will be held on the 10th at Samsung Electronics’ Jixing Park in Yongin City. This will be the first time Samsung Electronics has signed a wage agreement with the union in its 53-year history.

The trade union joint consultation group composed of four trade unions within Samsung Electronics recently voted and passed the "2021-2022 Annual Salary Negotiation Provisional Agreement" reached with the company. The labor and management began to conduct "2021 annual wage negotiations" since October last year. As the negotiations dragged on for a long time, the two sides merged the 2021 and 2022 wage negotiations, and a total of 31 negotiations have been conducted so far.

The contents of the final agreement include that the number of days the company will pay for the allowances for duty personnel during the festival period will be increased from 3 to 4 days; this year, the employees who do not use the three-day paid leave newly established at the beginning of the year will be re-issued seniority allowances; the establishment aims to improve wages. Decreasing labor working group. But the annual salary increase is determined at the level proposed by the company. Samsung Electronics raised the average salary of its employees by 7.5% and 9% last year and this year, respectively.

The labor union said that the labor force will build mutual trust with the company and make efforts to improve the wages and benefits of employees. The company said that following the first collective agreement signed last year, the labor and management reached an agreement on the salary agreement this time, which is a big step for the improvement of labor-management relations. The company will continue to maintain communication with the labor side and establish a win-win labor-management culture.