Following 'Mad-hyung' Samsung Electronics... Samsung Display Also Raises Wages by 9%

Wage Agreement Reached Without Disputes

[Image source=Yonhap News]

[Asia Economy Reporter Kim Jin-ho] Following Samsung Electronics, the eldest member of the Samsung Group, Samsung Display has also finalized this year's wage increase rate at 9%.

Samsung Display announced the results of the 2022 wage and welfare adjustments on the 12th.

Samsung Display decided to raise the average annual salary of its employees by 9% compared to the previous year, with a basic increase rate of 5% and a performance increase rate of 4%. The performance increase rate reflects the management performance of 2021 and was set at an average of 4.0%, higher than the previous year's average of 3.0%, to maintain competitiveness within the industry.

Additionally, to ensure sufficient rest and opportunities for recharging for employees, three days of paid leave were newly introduced. Spousal maternity leave was also extended from the existing 10 days to 15 days, and welfare benefits such as the expansion of resorts for employees were improved.

During the period of wage negotiations with the labor union, Samsung Display also held consultations with the labor-management council. By concluding consultations around the same time, the working conditions for this year were finalized smoothly without any disputes between labor and management.

A Samsung Display official stated, "It is significant that wage negotiations were successfully concluded between labor and management this year," adding, "We will continue to maintain the industry's best competitiveness based on a mature labor-management relationship."

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