Kumho Tire Labor and Management Sign Collective Bargaining Agreement Ceremony

On the 26th, Kumho Tire held a signing ceremony at the Gwangju factory attended by labor and management representatives and negotiation committee members, officially concluding the 2023 collective bargaining.

The event was attended by CEO Jeong Il-taek, Yang Hyun-joo, head of the Metal Workers' Union Gwangju-Jeonnam branch, Kim Myung-seon, head of the Production Technology Headquarters representing management, Im Gil-taek, chief of the labor union representing labor, and 16 others.

Both parties' representatives signed and exchanged the final collective bargaining agreement, pledging mutual cooperation for the company's business normalization.

This negotiation holds great significance as it was concluded quickly and without major conflict, with labor and management reaching a consensus amid increasing uncertainty in the company's business status in the second half of the year due to declining demand in the global tire market.

Going forward, Kumho Tire is expected to accelerate its efforts toward business normalization for the future of Kumho Tire based on a labor-management relationship of coexistence and cooperation.

CEO Jeong Il-taek stated, “I believe and am confident that this negotiation, showing labor-management cooperation moving forward while looking to the future, will be a very positive signal in the market,” adding, “We will do our best to generate more profits so that employees can work with greater peace of mind and comfort.”

Chief Im Gil-taek said, “Although there were differences in positions, we did our best and I believe labor and management made a difficult decision,” and added, “I hope that investments in facilities and production volumes will be secured to ensure the employment of all members in the future.”

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