Samsung and Labor Union Agree 5.1% Hike in Salary

Samsung Electronics and its labor force have reached a significant agreement, according to media reports.
The negotiation resulted in an average 5.1 percent increase in pay for the year, along with extensions to maternity leave, according to Yonhap news agency.

As the leading producer of memory chips and smartphones globally, Samsung Electronics prioritized discussions with its employees’ representatives to address wage concerns. This year’s pay raise marks a notable increase from the previous year’s 4.1 percent increment.

In a statement, Samsung Electronics affirmed its commitment to enhancing employee satisfaction by implementing a 5 percent wage raise, despite ongoing uncertainties in the global market.

Concurrently, a subset of Samsung’s unionized workforce, representing approximately 4 percent of the total 110,000 employees, had been advocating for a 6.5 percent wage hike. Negotiations between this faction and management commenced late last year, underscoring the complexities inherent in labor relations within the conglomerate.