Samsung Electronics Management Holds Negotiations with National Samsung Electronics Union

Source: Tiantian IC
    According to industry insiders on February 20th, Samsung Electronics management and the National Samsung Electronics Union (NSEU) held their sixth major negotiation this morning to discuss the magnitude of this year‘s salary increase. However, the negotiations broke down due to the inability of both sides to narrow their differences.
    Previously, the company proposed a 2.5% increase in basic salary, and the union demanded an 8.1% increase.
    The union announced the breakdown of negotiations and plans to apply for labor dispute mediation to the National Labor Relations Commission of South Korea on the same day.
    When mediation is required, the Central Labor Relations Commission establishes a mediation committee composed of employer members, worker members, and public welfare members to attempt a mediation period of 10 days. If the differences in stance remain unresolved, mediation will be stopped and the union will be authorized by law to initiate a strike. Since its establishment in 1969, Samsung Electronics has not had a precedent of a strike.
    However, according to reports, if the management proposes an improvement plan, even after the mediation process begins, the union still plans to resume negotiations.
   The National Samsung Electronics Union is the largest organization among Samsung affiliated unions, with approximately 17000 members.
    In addition, Samsung Electronics also conducts wage negotiations at labor management negotiation meetings, with both employers and employee members participating. It is reported that the labor management committee has requested a salary increase of 5.74%.