HD Hyundai Heavy Labor and Management Hold Wage Negotiation Signing Ceremony, Pledge for a New Leap Forward

HD Hyundai Heavy Industries labor and management held the '2023 Wage Negotiation Signing Ceremony' on the 15th at the Ulsan headquarters. Photo by HD Hyundai Heavy Industries

HD Hyundai Heavy Industries finalized the '2023 Wage Negotiations' between labor and management, uniting their intentions for a new leap forward.

On the 15th, labor and management of HD Hyundai Heavy Industries held the '2023 Wage Negotiation Signing Ceremony' at the Shipbuilding Management Hall at the Ulsan headquarters, attended by HD Hyundai Heavy Industries President Lee Sang-gyun, Vice Chairman Hong Ji-wook of the Korean Metal Workers' Union, Jung Byung-chun, head of the Metal Union Hyundai Heavy Industries Branch, and other negotiation committee members from both sides.

At the signing ceremony, President Lee Sang-gyun said, "Both labor and management approached the negotiations with sincerity, which allowed us to conclude this year's negotiations early," adding, "Let us use this momentum to work together for the remainder of the year to achieve our management goals."

Branch Head Jung Byung-chun responded, "Let us build a progressive labor-management relationship where employees can have company pride and move toward a bright future."

On the 5th, HD Hyundai Heavy Industries labor and management prepared a tentative agreement including ▲a basic wage increase of 127,000 KRW (including a seniority increment of 35,000 KRW) ▲an encouragement bonus of 4.5 million KRW (including 500,000 KRW in gift certificates). This agreement was approved with 58.52% in favor at the union members' general meeting held on the 7th.

Notably, this year, HD Hyundai Heavy Industries labor and management reached a consensus on concluding negotiations promptly, holding the signing ceremony about four months after the initial meeting in May, marking the earliest conclusion of negotiations since 2014.

On the same day, alongside the signing ceremony, HD Hyundai Heavy Industries labor and management jointly announced a 'Labor-Management Joint Declaration,' pledging to work together based on trust to prevent industrial accidents and ensure the company's continuous development.

The Labor-Management Joint Declaration includes key points such as ▲continuously identifying and reducing workplace hazards to create a safe working environment for all ▲cooperating to secure competitiveness in design and production to maintain the leading position in the shipbuilding and marine industry ▲building a dynamic corporate culture ▲and cooperating to develop a sound and fair labor-management relationship.

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