San: "Expecting Shipping and Logistics Role with HMM Wage Negotiation Settlement"
[Asia Economy Reporter Jin-ho Kim] Korea Development Bank stated on the 2nd, regarding the wage negotiation settlement between HMM labor and management, "We ask both labor and management to unite and fulfill their roles as a leading national ocean carrier amid the challenging national economic situation caused by COVID-19."
According to the bank, the recent wage negotiation discussed compensation measures for the reduced wage levels during the restructuring process. In this process, an agreement was reached considering both current business performance and future volatility simultaneously.
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The bank noted that the upcoming labor-management task force (TF) will prepare a "performance-based pay system and a three-year wage adjustment plan," emphasizing that "this will replace collective wage negotiations for three years." They expressed hope that this would be a meaningful advancement in strengthening HMM's mid- to long-term competitiveness and fostering a progressive labor-management relationship.
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