Korea National Oil Corporation Reaches Uncontested Wage Agreement for 7 Consecutive Years

Mutual Communication and Trust Between Labor and Management... Total Labor Cost Increased by 1.2% with Grade 1 Salaries Frozen

Korea National Oil Corporation (President Kim Dong-seop) signed the '2023 Wage Agreement' with the labor union on the 20th.

President Kim Dong-seop (right) of Korea National Oil Corporation and Labor Union Chairman Park Dong-seop are taking a commemorative photo after signing the wage agreement.

In particular, with the conclusion of this wage agreement, the oil corporation's labor and management have continued to reach wage negotiation settlements without disputes for seven consecutive years.

In this wage negotiation, both labor and management agreed, following government guidelines, to ▲increase total labor costs within the range of 1.2% ▲freeze labor costs for Grade 1 employees, and also decided to continuously discuss improvements in treatment for support staff converted to regular employees in the future.

Kim Dong-seop, President of the oil corporation, said, “In difficult circumstances, labor and management reached a consensus by each making concessions through dialogue and compromise,” adding, “Through the mutual trust built between labor and management over time, we will harmonize and cooperate for mutual growth, setting an example in labor-management relations.”

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