HUG Signs 18th Consecutive Year of Labor-Management Agreement Without Disputes... Promotes Introduction of Labor Director System
Partial Wage Increase Paid in Onnuri Gift Certificates
Joining the Effort to Share the Burden of COVID-19 on Small Business Owners
[Asia Economy Reporter Moon Jiwon] The Housing and Urban Guarantee Corporation (HUG) has set a record of 18 consecutive years of wage and collective agreement (hereinafter referred to as wage and collective agreement) settlements without disputes.
HUG announced on the 14th that it signed a wage and collective agreement with the HUG branch of the National Financial Industry Labor Union on the 7th. Accordingly, HUG achieved the record of 18 consecutive years of wage and collective agreement settlements without disputes since the establishment of the labor union in 2003.
In this wage and collective agreement, HUG labor and management agreed to pay part of the wage increase in Onnuri gift certificates to support small business owners struggling due to the spread of the novel coronavirus infection (COVID-19) and to contribute to revitalizing the local economy.
Since early this year, HUG has participated in sharing the COVID-19 burden by returning 30% of executives' monthly salaries for four months and paying 10% of department heads' management evaluation performance bonuses in Onnuri gift certificates.
Also, in the wage and collective agreement, HUG labor and management agreed to promote the introduction of a labor director system for workers' participation in management in line with government policies if related laws such as the Act on the Operation of Public Institutions are amended.
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Lee Jaekwang, President of HUG, said, "This year as well, we have successfully concluded the wage and collective agreement through labor-management cooperation," and added, "HUG will continue to do its best to operate a stable organization and fulfill social responsibilities based on a mutually beneficial labor-management relationship."
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