Samsung Electronics negotiates wages with the Labor-Management Council
Basic increase rate 4.5%, performance increase 3%
‘Jackpot’, an average of 11% increase in agency-level employees
Samsung Electronics flag fluttering in front of Samsung Electronics’ Seocho office building in Seocho-gu, Seoul/Photo = Yonhap News
Samsung(81,400 +0.25%)Has set the average wage increase rate for employees this year to 7.5%. This is the largest increase in the past 10 years. Despite the pandemic caused by the novel coronavirus infection (Corona 19), it is believed that it was due to the record-high performance last year.
According to the industry on the 26th, Samsung Electronics announced that it has decided on an average wage increase rate of 7.5% this year through wage negotiations with the labor-management council conducted the day before through an in-house announcement.
Specifically, the base-up (basic increase rate) is 4.5% and the performance increase rate is 3%. This year’s basic increase rate is 2.1 percentage points higher than the previous year’s wage increase rate (2.5%).
Although the specific increase rate differs according to individual evaluation and annual salary level, the increase rate of employee and agent-level employees was particularly high. The average wage increase rate for CL1~2 employees at the employee/agent level is 11%.
The starting wage for college graduates is increased from 44.5 million won to 48 million won. We also raised the welfare point by 300,000 won from 700,000 won to 1 million won.
Although this year’s wage negotiations were settled a bit later than in previous years, both sides of Samsung Electronics and the labor-management council gave up one step at a time to negotiate, and an agreement was reached within March as usual.
Samsung Electronics recorded sales of 236 trillion won and operating profit of 36 trillion won last year.
Seongsu Bae, reporter of Hankyung.com [email protected]
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