"Chairman Lee Jae-yong, Be Courageous, We Must Meet"…Samsung Union Coalition Demands 5.4% Wage Increase

The Samsung Group Labor Union Solidarity, a federation of the National Metalworkers' Union comprising labor unions from 11 Samsung affiliates, has requested a 5.4% wage increase from management this year.

The Samsung flag hanging at the Samsung Electronics Seocho Building in Seoul is fluttering in the wind. [Image source=Yonhap News]

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On the 6th, the Samsung Union Solidarity held a press conference in front of the Samsung Electronics Seocho Building in Seoul and announced a joint demand for improvements in working conditions and labor-management relations for 2024, including this wage increase request.

The demands for improving working conditions include a common wage increase rate of 5.4% this year and performance-based raises according to each affiliate's business results. The union proposed the 5.4% common increase rate by reflecting last year's inflation rate of 3.6% and the industry-specific labor productivity growth of 1.8%.

They also demanded improvements to the wage peak system and extension of the retirement age, a work-life balance guarantee including 5 days of refresh leave, abolition of the comprehensive wage system to transition to a fair wage structure, introduction of a fair evaluation system and elimination of wage cuts for low-rated employees, equal treatment between parent and subsidiary companies, and the formation of a joint labor-management task force (TF).

Additionally, as part of the labor-management relations improvement demands, they proposed a direct negotiation meeting with Samsung Electronics Chairman Lee Jae-yong and the attendance of the CEO during negotiations.

The union stated, "Chairman Lee, who made the bold decision to abandon no-union management, is hoped to muster courage at least once to meet with union representatives and listen to reasonable proposals for labor-management coexistence." They added, "Collective bargaining is a legally mandated official negotiation between labor and management representatives, and it is common sense for a responsible CEO to attend. If the CEO participates in the negotiations, it will lay the foundation for labor-management coexistence."

The Samsung Union Solidarity includes unions from Samsung Display, Samsung SDI Ulsan, National Samsung Electronics Service, Samsung Life Insurance, Samsung Life Service, Samsung Fire & Marine Insurance, Samsung Fire & Marine Anycar Claims Service, Samsung Card Customer Service, Samsung Welstory, Samsung S-1 Participation, and Samsung Engineering.

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