LG Chem also confirmed plans to raise wages for new employees by 6.9%
LG Electronics and LG Electronics’ labor union (hereinafter referred to as the labor union) agreed on a 9% wage increase this year on the 18th.
LG Electronics and the labor union confirmed this year’s wage increase rate to 9%, and guided employees through information sessions by organization on this day.
This is the same level as the 9% increase in 2011, the highest rate of increase since 2000.
Considering that LG Electronics’ wage increase rate for the past three years since 2018 has been around 4% per year, this year’s increase is more than doubled.
LG Electronics and the labor union applied an increase rate according to last year’s performance grade for each individual, while raising the starting salary for each position in order to increase employee morale and strengthen wage competitiveness.
The new initial wages for employee, senior, and responsible positions are increased by 3 million won, 5 million won, and 6 million won, respectively, to 46 million won, 55 million won, and 71 million won compared to the previous one.
The increased wages are applied from the March salary.
LG Electronics and the union decided to improve the welfare benefits along with a plan to increase wages.
Starting this year, employees with children entering elementary, middle and high schools will be given a laptop computer only once per child.
If the employee’s spouse does not undergo a health checkup, the employee or one of the spouse’s immediate family members may receive a health checkup.
Earlier, LG Chem also confirmed the reorganization of the office worker wage system by increasing the annual salary of new employees by 6.9% from 43 million won to 46 million won.
An official in the business world said, “Amid intensifying competition in the industry, large companies are paying attention to employee welfare in order to secure excellent workforce and prevent churn.”
/yunhap news
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