KCCI: "Samsung Electronics Labor-Management Agreement Is Fortunate... Highly Significant for the National Economy"

The Korea Chamber of Commerce and Industry (KCCI) has welcomed the agreement reached in the incentive pay negotiations between the labor and management at Samsung Electronics.

On the 21st, the KCCI issued a statement regarding the labor-management agreement at Samsung Electronics, saying, "The business community is relieved that labor and management at Samsung Electronics were able to reach an agreement through dialogue just one day before the planned general strike." The KCCI also evaluated, "Neither side let go of the thread of dialogue until the end, and this outcome was further enabled by the government's active mediation."

The KCCI stated, "In the context of fierce global competition for technological supremacy, avoiding the worst-case scenario where semiconductor production lines—which require 24-hour uninterrupted operation—would have been halted, is highly significant not only for Samsung Electronics but also for the entire industrial ecosystem and the national economy as a whole." The KCCI added, "We hope this will serve as an opportunity for our labor relations to move beyond wasteful confrontation and instead protect industrial competitiveness and jobs together through trust and cooperation."

Previously, on the afternoon of the previous day, labor and management at Samsung Electronics signed a "tentative agreement for the 2026 wage negotiations" at the Gyeonggi Employment and Labor Office in Suwon, Gyeonggi Province. The main points of the agreement are the retention of the existing OPI (Over-Profit Incentive) system and the introduction of a "special management performance bonus," which will be funded by 10.5% of the business performance agreed upon between labor and management.

The union plans to hold a vote among its members regarding the tentative agreement from May 22 to May 27. The tentative agreement will be finalized only if a majority of all union members participate in the vote and a majority of those participating vote in favor.

On the 20th, at the Gyeonggi Employment and Labor Office in Jangan-gu, Suwon-si, Gyeonggi-do, after concluding the Samsung Electronics wage negotiation, Yeomyeonggu, Head of People Team at Samsung Electronics DS (Device Solutions - Semiconductor Business), and Choi Seungho, Chairman of the Samsung Electronics Branch of the Samsung Group Super-Industry Labor Union, signed the tentative agreement and took a commemorative photo with Kim Younghoon, Minister of Employment and Labor. Photo by Yonhap News

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