Will the 2-Year Labor Dispute at Hanwha Life Be Resolved... Basic Agreement Signed

[Asia Economy Reporter Changhwan Lee] The labor-management conflict between Hanwha Life Financial Service and the insurance planners' union, which had been severe for two years, is likely to be resolved. Both sides agreed to discuss key issues such as guaranteeing union activities through the signing of a basic agreement.

According to the insurance industry on the 21st, Hanwha Life Financial Service and the Hanwha Life branch of the Financial Services Union Insurance Planners' Division signed a basic agreement for wage and collective bargaining negotiations yesterday at the Federation of Korean Industries building in Yeouido, Seoul.

Hanwha Life established Hanwha Life Financial Service, a GA (General Agency) subsidiary mainly composed of insurance planners, last April to separate the manufacturing and sales organizations of insurance products.

Before the company's launch, in January last year, a union was formed mainly by insurance planners affiliated with Hanwha Life, and they began labor-management conflicts by demanding recognition as a bargaining group, guarantees for union activities, and job security from the company, separate from the existing office workers' union.

At that time, Hanwha Life argued that since there was an existing union as a negotiation counterpart and Hanwha Life Financial Service was separated through a physical division, the working conditions were not different, and that the newly established union was making unreasonable demands.

Due to the large gap in positions, the union pressured the company by conducting a tent sit-in in front of the Hanwha Life headquarters at the 63 Building in Yeouido starting from March last year. The deadlock between the two sides began to show signs of change from this year.

In February, the first representative negotiation between Hanwha Life Financial Service and the union was held, where CEO Koo Do-gyo of Hanwha Life Financial Service and union officials met to discuss negotiation methods and guarantees for union activities. Since then, both sides have continued dialogue, leading to the signing of the basic agreement for the first time.

The basic agreement reportedly includes the schedule for negotiations to be conducted for the main agreement, the selection of committee members participating in the negotiations, and the company's support for union activities. With the agreement signed, the union is expected to dismantle the tent sit-in site in front of the 63 Building.

Kim Tae-eun, head of the Hanwha Life branch of the Financial Services Union Insurance Planners' Division, said, "Since this is a new path, I hope we do not get discouraged by difficulties and continue to resolve issues through communication."

CEO Koo Do-gyo stated, "Conflicts occurred because both sides were unfamiliar with each other, but starting with the signing of the basic agreement, I hope we can create a culture of mutual growth in the main negotiations."

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