Hyundai Heavy Industries Labor and Management, Collective Bargaining Signing Ceremony... Pledge for a New Start

President Sangkyun Lee, Branch Chief Byungcheon Jeong, and others attend
First Dispute-Free Negotiation Settlement in 9 Years Since 2013

[Asia Economy Reporter Choi Seoyoon] Hyundai Heavy Industries labor and management held a signing ceremony for the '2022 Wage and Collective Agreement.'

The signing ceremony held on the 19th at the Shipbuilding Management Hall at the Ulsan headquarters was attended by Lee Sang-gyun, President of Hyundai Heavy Industries, Hong Ji-wook, Vice Chairman of the Korean Metal Workers' Union, Jeong Byeong-cheon, Head of the Metal Union Hyundai Heavy Industries Branch, and other labor-management negotiation committee members.

On this day, President Lee Sang-gyun said, "I am very pleased to conclude the negotiations without any disputes in the year marking the 50th anniversary of the company's founding," adding, "Let us use this opportunity for labor and management to cooperate and wisely resolve various pending issues to create a lively and happy workplace."

Branch Head Jeong Byeong-cheon responded, "I thank everyone who worked hard to complete the negotiations within the year," and said, "Let us work together so that concluding the agreement without carrying it over to the next year can serve as a turning point for the development of a new labor-management relationship."

Hyundai Heavy Industries labor and management reached a consensus (tentative agreement) on the 13th, including ▲a basic wage increase of 80,000 KRW (including seniority increments) ▲a 20,000 KRW increase in regional and welfare allowances ▲a bonus of 3.5 million KRW ▲and gift certificates worth 500,000 KRW, which was approved with a 57.47% majority at the union members' general meeting held on the 15th.

Notably, during the 2022 collective bargaining process, the Metal Union Hyundai Heavy Industries Branch did not carry out a strike, allowing Hyundai Heavy Industries labor and management to conclude the collective bargaining without any disputes for the first time in nine years since 2013.

Meanwhile, Hyundai Electric held a '2022 Wage Agreement' signing ceremony on the same day, and Hyundai Construction Equipment is scheduled to hold a '2022 Wage Agreement' signing ceremony on the 21st.

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