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| Samsung Electronics' headquarters in Seoul / Korea Times file |
By Kim Hyun-bin
Samsung Electronics' union and management have reached an agreement on wage negotiations for 2021 and 2022, according to company officials, Monday.
According to Samsung Electronics, the union and management of Samsung Electronics will hold a wage agreement signing ceremony on Wednesday. This will mark the first wage agreement between Samsung Electronics' labor and management representatives.
"The company will work hard to establish a sound labor-management culture that creates win-win growth through dialogue with the union," Samsung Electronics official said.
The labor union joint bargaining group consisting of four labor unions within Samsung Electronics recently voted on the "2021-2022 interim wage bargaining agreement," which has tentatively been agreed on together with the company. Labor and management have held a total of 31 collective bargaining sessions, including 11 main negotiations and 20 working-level negotiations.
Until now, Samsung's union membership rate has been only 5 percent, so even if the management negotiates with the union, the management has to negotiate wages separately with the remaining 95 percent of the employees who are not affiliated with the union.
Earlier, the union announced a proposal containing 44 items, including a lump sum increase of 10 million won in annual salary, 25 percent of operating profit as a bonus, and disclosure of the incentive payment system.
The union agreed to follow the wage increase rate set by Samsung Electronics last year. The wage increase proposed by Samsung Electronics is 7.5 percent, including a basic increase rate of 4.5 percent, average performance increase rate of 3 percent and 9 percent for this year including basic increase rate of 5 percent, and average performance increase rate of 4 percent.
It was also decided that there would be a labor-management task force (TF) formed to improve the wage peak system and the comprehensive wage system.
The detailed final bill will be announced after further consultation with the union or management in time for the signing ceremony.
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