Samsung Display Reaches Wage Agreement With Union
The first ever strike by an electronics division of Samsung has come to an end, with the labour union and Samsung Display reaching a wage agreement.
Six union representatives walked out in June 21 demanding a 6.8 per cent rise in base wages.
After negotiations, the union accepted a 4.5 per cent hike, which was agreed upon by 83 per cent of members.
“We withdrew our wage increase demand for the sake of the company’s competitiveness in consideration of the prolonged COVID-19 and intensifying external competition,” the union said.
“The company promised to provide wage data for the next wage negotiations, which will resume four months later.”
Samsung Display’s union has 2,400 members, representing roughly 10 per cent of the total workers at the company.