Photo = HD Korea Shipbuilding & Marine Engineering

 

 

[Alpha Biz= Reporter Kim Sangjin] HD Hyundai Heavy Industries has successfully reached a labor agreement after prolonged negotiations over wage increases, ending the strike risk that had been troubling the shipbuilding industry. Following similar resolutions at Hanwha Ocean and Samsung Heavy Industries, the shipbuilding sector is expected to experience a positive shift.

According to the shipbuilding industry on the 21st, HD Hyundai Heavy Industries and its labor union reached a tentative second agreement on the 2024 collective bargaining negotiations. After a vote by 6,192 workers, 3,664 (59.2%) voted in favor, leading to the final approval. As part of the agreement, the basic salary will be increased by 130,000 KRW (including seniority increments), and a bonus of 4.7 million KRW will be paid.

The labor union and management had initially reached a first tentative agreement on the 6th of this month, but it was rejected by 59.6% of the workers in a union-wide vote. The union cited that the wage increase did not meet their expectations, leading to additional negotiations and the second agreement. The new deal includes a 1,000 KRW increase in basic salary and a 200,000 KRW rise in the bonus compared to the first offer.

 

 

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