Gyeongnam Korean Confederation of Trade Unions, "SNT Junggong Industry Must Hire Young Workers and Abolish the Wage Peak System"

Demand for New Hiring and Abolition of the Wage Peak System

The Gyeongnam Headquarters of the Korean Confederation of Trade Unions held a press conference condemning SNT Heavy Industries in front of the main building of the Gyeongnam Provincial Government on the 24th. / Photo by Se-ryeong Lee ryeong@

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] On the 23rd, the Korean Confederation of Trade Unions (KCTU) Gyeongnam Headquarters held a press conference demanding that SNT Heavy Industries ▲hire new young workers on site ▲abolish the wage peak system.

The Gyeongnam Headquarters stated, “SNT Heavy Industries has been one of the region’s representative defense companies since the Tongil Heavy Industries era, playing an important role in the local economy and Korea’s defense industry. However, in reality, it is an irresponsible, greed-driven company that does not fulfill its social responsibilities,” adding, “They have not hired new workers on site for 30 years, and the number of workers has decreased from 1,400 about 20 years ago to around 500, causing local youth to leave their hometowns.” They continued, “The wage peak system, which was difficult to agree upon, is being used as a means to cut wages, and the so-called compensation allowance is adjusted to meet the minimum wage.”

The Gyeongnam Headquarters further stated, “The skilled defense industry technology accumulated over decades is on the verge of extinction,” and argued, “To resolve youth unemployment, young workers must be newly hired and the wage peak system, which threatens workers’ livelihoods, must be abolished.”

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