LS Electric Union Delegates Wage and Collective Agreement to Management for the First Time Since Founding

"Labor-Management Win-Win Agreement Ceremony" Held at LS Yongsan Tower on September 29
Koo Ja-kyun: "The Result of Our Shared Aspiration for Growth"

LS Electric announced on September 30 that it held a "Labor-Management Win-Win Agreement Ceremony" at the LS Yongsan Tower in Yongsan-gu, Seoul, on September 29, attended by Koo Ja-kyun, Chairman of LS Electric, and Lee Ho-jung, Chairman of the LS Electric Labor Union, to fully delegate the 2025 wage and collective agreement. As a result, the LS Electric labor union will delegate all matters related to this year's wage and collective agreement to the company.

LS Electric announced that on the 29th, it held a "Labor-Management Win-Win Agreement Ceremony" at LS Yongsan Tower in Yongsan-gu, Seoul, attended by Koo Ja-kyun, Chairman of LS Electric, Lee Ho-jung, Chairman of the LS Electric Labor Union, and others, delegating all wage and collective bargaining agreements for 2025. The photo shows (from left) Chae Dae-seok, CEO of LS Electric, Koo Ja-kyun, Chairman of LS Electric, and Lee Ho-jung, Chairman of the LS Electric Labor Union, posing for a commemorative photo after completing the delegation of wage and collective bargaining agreements. Provided by LS Electric

LS Group uses the term "Nogyeong" (labor-management), which means "workers and management," instead of the traditional "Nosa" (labor and employer), to emphasize mutual respect and partnership.

At the Labor-Management Win-Win Agreement Ceremony, the LS Electric labor union delegated all matters concerning this year's wage and collective agreement to the company and agreed to work together for the achievement of the company's goals and growth. This is the first time since the founding of LS Electric that both the wage and collective agreement have been fully delegated to the company.

Koo Ja-kyun, Chairman of LS Electric, said, "I am pleased that we have created a model case of mutual growth in unison at a crucial time when demand for next-generation power solutions is surging." He added, "This is the result of our employees' aspirations for growth coming together with a spirit of unity and shared purpose, and I believe labor and management will continue to respect and care for each other as we achieve new milestones."

Lee Ho-jung, Chairman of the LS Electric Labor Union, stated, "This delegation is a decision based on the belief that the company and the labor union grow together," adding, "We will continue to support the realization of the company's future vision based on trust and communication."

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