Hanwha Aerospace Concludes Labor-Management Negotiations After 3 Years

Shin Hyun-woo, CEO of Hanwha Aerospace (fifth from the left in the front row), Yoon Jong-gyun, Chairman of the Samsung Techwin Branch of the Metal Workers' Union (third from the left in the front row), and Kang Woong-pyo, Deputy Head of the Gyeongnam Branch of the Metal Workers' Union (fourth from the left in the front row), along with other labor and management representatives, are taking a commemorative photo immediately after the '2017-2018 Wage and Collective Agreement Signing Ceremony' held on the 8th at Hanwha Aerospace’s Changwon plant in Gyeongsangnam-do.

[Asia Economy Reporter Ki-min Lee] Hanwha Aerospace, a manufacturer of engines for aircraft and gas turbines, has concluded the 2017 and 2018 wage and collective bargaining agreements (CBAs) after three years of negotiations between labor and management.

Hanwha Aerospace announced on the 11th that on the 8th, a signing ceremony for the CBAs was held at the Hanwha Aerospace Changwon plant, attended by CEO Shin Hyun-woo and Yoon Jong-gyun, head of the Metal Workers' Union Samsung Techwin branch, among others.

Previously, Hanwha Aerospace experienced conflicts until recently due to unresolved differences between labor and management during the process of selling shares from Samsung to Hanwha in 2015.

However, Hanwha Aerospace explained that amid the internal and external economic crisis caused by the COVID-19 pandemic, labor and management united with the intention to overcome the challenges together.

CEO Shin stated, “I am grateful to the branch and union members for making difficult decisions for labor-management coexistence and the company's sustainable management amid the severe internal and external economic situation. Taking today as an opportunity, all employees will unite as one and focus on achieving the vision of becoming the ‘Global No.1 Partner in Aircraft Engines’ based on a stable labor-management relationship.”

It is also known that the Changwon branch of the Ministry of Employment and Labor played a role in guiding and supporting the negotiations. During periods when labor-management conflicts peaked, the Changwon branch repeatedly emphasized mutual concession and understanding, arranged focused negotiations, and engaged in persuasion efforts.

Yoo Hae-jong, head of the Changwon Employment and Labor Office, stated, “Labor and management who have experienced conflicts often achieve greater leaps forward based on those valuable experiences, and I am confident that Hanwha Aerospace labor and management will also achieve greater development and progress starting from today.”

This content was produced with the assistance of AI translation services.