Hanwha Life Labor Union "Strike Begins... Concerns Over Subsidiary Conversion Risks"

[Asia Economy Reporter Oh Hyung-gil] The labor union of Hanwha Life Insurance, which has announced the establishment of a sales-specialized subsidiary, will go on strike until the 22nd of next month.

The Hanwha Life Insurance branch of the National Union of Office and Financial Workers announced that starting from the 29th, they will begin a "general strike to demand a job security agreement in response to the forced conversion of exclusive channels to the corporate agency (GA) subsidiary." During the strike period, all union members plan to stop working.

Hanwha Life Insurance management and labor held negotiations for three weeks from the 5th to the 26th to narrow differences regarding the "policy to separate manufacturing and sales companies (physical division)."

The union stated, "The company's decision to convert the entire exclusive channel to GA is being pushed forward without even minimal safeguards or verification," and added, "We have conveyed to management our concerns that they may not be able to bear the enormous risks."

They further emphasized, "If the company insists on forcibly implementing the physical division despite the union's objections, it has the responsibility to resolve the employment instability that the physical division will cause," and "This responsibility is guaranteed by the collective agreement made with the labor union."

They criticized, "Throughout the negotiation period, management blindly insisted on the policy of forced conversion of exclusive channels to the GA subsidiary through physical division, and ultimately failed to present any responsible measures to alleviate the employment insecurity of union members, leading to the breakdown of negotiations."

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