Hanwha Life Labor-Management Conflict Over 'Establishment of Sales Subsidiary'... Will the Strike Continue?

Union demands ban on transfers without consent
Management CEO assurance... dialogue channel maintained

[Asia Economy Reporter Oh Hyung-gil] The labor and management of Hanwha Life, which announced the launch of a sales-specialized subsidiary, have failed to narrow their differences over job security. They discussed prohibiting employees from transferring to the subsidiary and signing a job security agreement but could not reach a consensus.

According to the insurance industry on the 28th, Hanwha Life and the Hanwha Life Insurance Branch of the National Union of Office and Financial Workers (Hanwha Life Union) conducted negotiations related to the establishment of the sales subsidiary for three weeks from January 5 to 26, but ultimately broke down.

Hanwha Life plans to launch the sales-specialized company 'Hanwha Life Financial Services (tentative)' on April 1 after a shareholders' meeting in March. It is expected to be a 'mega sales-specialized company' with about 540 sales agencies, approximately 1,400 employees and executives, and 20,000 FPs (financial planners).

In response, the union, concerned about job insecurity and worsening working conditions, demanded the company guarantee 'prohibition of subsidiary transfers without employee consent' and 'signing a job security agreement guaranteeing employment at both the parent and subsidiary companies for five years,' but failed to reach an agreement.

The union stated, "If the management does not accept the union's core demands, we will launch a full-scale strike starting on the 29th," adding, "This is to establish comprehensive job security measures (for both parent and subsidiary companies) and to guarantee the 'right not to transfer' to the subsidiary."

Hanwha Life said, "We have already presented conditions for job security, including a written assurance signed by the CEO guaranteeing employees' job security and succession of working conditions," and added, "Although the negotiation period has ended, we continue to maintain communication channels with the union for ongoing dialogue."

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