Homeplus Labor and Management Agree on 4.7% Wage Increase "First Dispute-Free Settlement in 4 Years"

Lee Je-hoon, President of Homeplus (center), Joo Jae-hyun, Chairman of the Mart Industry Labor Union Homeplus Branch (right), and Lee Jong-sung, Chairman of the Homeplus General Labor Union, are posing for a commemorative photo after the signing ceremony of the "2022 Wage Agreement" at the Homeplus headquarters in Deungchon-dong, Seoul, on the 12th. (Photo by Homeplus)

[Asia Economy Reporter Jeon Jinyoung] Homeplus announced on the 13th that it reached a final agreement on the '2022 Wage Agreement' with the representative labor unions for negotiations, the Mart Industry Labor Union Homeplus Branch and the Homeplus General Labor Union, at the Homeplus headquarters in Deungchon-dong, Gangseo-gu, Seoul, and held a signing ceremony.

The labor and management agreed to raise wages by 4.7% from store senior staff to manager level, and from headquarters senior staff to full-time positions, and to increase the gift certificate amount paid during the Lunar New Year and Chuseok holidays from the existing 50,000 won to 100,000 won. The increased wages will be paid starting from the December salary, and the retroactive pay from January to November of this year will be paid on the 2nd of next month.

This wage agreement is significant as it was reached without dispute for the first time in four years since 2018. Despite various internal and external difficulties such as COVID-19, rising prices, and the recession in offline retail, labor and management decided to join hands and overcome the crisis together.

Lee Jaehoon, CEO of Homeplus, said, “I am very pleased that this wage agreement was smoothly concluded without dispute despite the difficult business environment caused by the economic downturn and prolonged COVID-19,” and added, “I hope that peaceful labor-management consultations will proceed promptly in the upcoming 2023 wage negotiations.”

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