Samsung Electronics tentatively agrees to 5.1% wage hike... 1.7 million won worth of company stock to be provided (Korea)

Samsung Electronics' labor and management have reached a tentative agreement to raise the average wage by 5.1% in 2025. In addition, the company will provide all employees with 30 company shares (worth about 1.7 million won).
On the 24th, Samsung Electronics and the National Samsung Electronics Workers Union (hereafter referred to as the National Samsung Workers Union) announced that they would set up a joint labor-management task force (TF) to discuss ways to improve the performance-based pay system.
The two sides reached a tentative agreement on the 2025 wage and collective bargaining agreement, which includes the above-mentioned points. The agreement took about 48 days to reach after the start of full-scale wage negotiations for 2025 on January 7.
The adjustment of the wage agreement for fiscal years 2011 and 2012 was also completed. The labor and management decided on an average wage increase rate of 5.1% (a joint increase rate of 3% + an average performance increase rate of 2.1%).
The company decided to provide all employees with 2 million Family Net Mall points that can be used for purchases and 30 shares of its own stock. On that day, Samsung Electronics' stock price was about 57,400 won.
Taking into account the above, each employee is expected to receive approximately 1.7 million won worth of company stock. The payment date will be notified separately, and there will be no sales restriction period.
In addition, to improve the performance-based pay system (OPI, TAI), a task force is being run with the participation of both labor and management, and the details of the improvements are being reviewed every six months.
The company has agreed to report the results of the initiative, which aims to adjust the criteria and funding range for performance-based pay, which has been a source of growing dissatisfaction among employees.
In addition, a new system has been established to re-employ employees with three or more children after retirement.
The government has decided to add "20 days (250,000 won)" to the shift work allowance items that were previously set at 6 days (100,000 won) and 10 days (200,000 won).
Zensanro will hold a vote for its members on the proposed tentative agreement from the 28th of this month to the 5th of next month.
"We will use the agreement on the collective agreement as an opportunity to reach a settlement between labor and management and focus on strengthening our business competitiveness," the statement said. Zensanro also indicated its intention to "continue to fulfill its role as the negotiating representative union."