Korea Zinc Reaches 2024 Wage Negotiation Agreement... Basic Salary Increased by 139,000 Won

Special Commemorative Medal Awarded on the 50th Anniversary of Establishment

Korea Zinc's labor and management have concluded the 2024 wage negotiations, continuing 37 consecutive years of dispute-free agreements.

Jung Tae-woong, President of the Smelting Business Division at Korea Zinc (fifth from the right in the front row), and Moon Byung-guk, Chairman of the Korea Zinc Labor Union (sixth from the right), are taking a commemorative photo after finalizing the 2024 wage negotiations on the 30th.
[Photo by Korea Zinc]

Korea Zinc and the Korea Zinc Labor Union announced on the 30th that they have finalized the 2024 wage negotiations. The labor and management agreed on an average base salary increase of 139,000 KRW (including promotion increments), a labor-management harmony incentive of 1.9 million KRW, and a cost reduction improvement incentive of 1 million KRW.

The agreement also includes additional performance bonuses if operating profit reaches 1 trillion KRW this year. Furthermore, Korea Zinc's top management decided to provide a special commemorative bonus in honor of the company's 50th anniversary this year.

Contrary to the expected decline in business performance at the beginning of the year, Korea Zinc has maintained solid results so far. The proactive risk management policies, such as process rationalization and cost reduction projects, are evaluated to have been effective.

A Korea Zinc official stated, "Although uncertainties in the business environment continue, based on a stable labor-management relationship built on mutual trust, all employees will work together to strengthen not only the existing smelting business but also the success of future eco-friendly businesses and continuous market competitiveness."

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