Labor and management have decided to guarantee paid time for members to participate in the union's general meeting and pay 2 million points to all employees to spend on purchasing their products.
In addition, the existing plan announced in March will be applied to the 5.1% wage increase and the expansion of long-term leave.
It also includes mutual respect, efforts, and joint social contributions from labor and management to enhance competitiveness and establish cooperative labor-management relations.
Samsung Electronics said it will focus on strengthening its business competitiveness by using the conclusion of the wage agreement as an opportunity for labor-management harmony.
The agreement comes 10 months after January, when wage negotiations for 2023 and 2024 were merged and renewed.
The Korean Samsung Electronics Workers' Union will hold a vote on the provisional agreement by the 21st.
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