Kumho Petrochemical Group Subsidiary Union Delegates Collective Bargaining Negotiations to Management

On Yonghyun, President of Kumho Mitsui Chemicals (left), and Oh Hyunwoo, Chairman of the Kumho Mitsui Chemicals Labor Union (right), are posing for a commemorative photo at the delegation ceremony for the collective bargaining agreement on the 18th.

[Asia Economy Reporter Hwang Yoon-joo] Kumho Petrochemical Group announced on the 18th that the labor unions of its affiliates Kumho P&B Chemical, Kumho Mitsui Chemical, Kumho Polychem, and Kumho T&L have each fully delegated matters related to wages and collective agreements to the management.

Kumho Petrochemical explained, "Following the delegation of wage and collective agreement negotiations by the three Kumho Petrochemical labor unions on the 11th, the labor unions of the four major affiliates have also expressed their support for the company."

At this delegation ceremony, the labor and management of Kumho Petrochemical Group agreed to join forces to achieve the group's new vision and mid- to long-term growth. Oh Hyun-woo, chairman of the Kumho Mitsui Chemical labor union, emphasized the significance by stating, "Our labor union decided on this delegation prioritizing the future of Kumho Petrochemical Group over immediate benefits."

In response, Park Chan-gu, chairman of Kumho Petrochemical Group, said, "I appreciate that not only Kumho Petrochemical but also other labor unions in the group have shown trust in the company," and added, "I hope we continue to maintain a mutually cooperative labor-management relationship unique to our group."

Meanwhile, Kumho Petrochemical Group consists of a total of 12 companies, including Kumho Petrochemical, Kumho P&B Chemical, Kumho Mitsui Chemical, Kumho Polychem, Kumho Development Corporation, Kumho T&L, and Korea Energy Power Plant. In 2020, on its 50th anniversary, the group declared a new vision as a "solution partner creating a shared future with value beyond chemistry."

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