Samsung Electronics President Kyung Kye-hyun to Hold First Meeting with Union on 18th... Will Wage Negotiations Be Discussed?

Union Plans to Directly Explain Key Demands to President Kyung
Samsung Electronics Labor-Management Fails to Reach Agreement After 15 Negotiations

[Asia Economy Reporter Jin-ho Kim] Kyung Kye-hyun, president of the DS Division and designated CEO of Samsung Electronics, will personally attend a meeting with the union representatives. The union is expected to directly demand key issues such as wage negotiations and the guarantee of rest rights during this meeting, drawing attention to the outcome.

According to Samsung Electronics labor-management relations on the 11th, President Kyung is scheduled to meet with union representatives at the Samsung Electronics Hwaseong plant on the 18th.

Samsung Electronics informed the union on the same day that President Kyung will attend the meeting representing the company. Earlier, four unions within Samsung Electronics requested a direct meeting between the CEO and union representatives after the 2021 wage negotiations broke down.

From the company side, President Kyung along with about three HR executives will attend, and from the union side, each union chairman and secretary will participate in the meeting.

The union plans to discuss two key demands with the CEO during this meeting: 'improvement of the wage system' and 'guarantee of rest rights.'

Regarding the wage system, the union plans to propose changing the performance bonus payment criteria from the current EVA (Economic Value Added) to operating profit, as well as demands to abolish the comprehensive wage system and wage peak system, and to increase the basic salary by a fixed amount. Regarding rest rights, they plan to request an additional five paid holidays and to make the company founding day and union founding day each a paid holiday.

Samsung Electronics labor and management have held 15 rounds of negotiations since October last year over wage talks but failed to narrow their differences, resulting in a breakdown of negotiations. A Samsung Electronics official said, "(The meeting on the 18th) is a meeting for communication after the inauguration," adding, "It is understood that wage negotiations will not be on the table."

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