[News Space=Reporter seungwon lee] Samsung Electronics' labor and management have reached a final agreement on a three-year wage and collective bargaining agreement. Accordingly, the plan to rehire employees with three or more children after retirement is expected to be institutionalized for the first time among major domestic companies.

Samsung Electronics announced on the 5th that it held a signing ceremony for the 2025 collective bargaining agreement with the National Samsung Electronics Labor Union (NSU) at the company’s Giheung Campus on the same day. The event was attended by NSU Chairman Son Woo-mok and Samsung Electronics Device Solutions (DS) Division People Team Leader Choi Wan-woo.

According to Jeon Sam-no, the vote on the tentative agreement on wages and collective bargaining for 2023, 2024, and 2025 was held from the 28th of last month to this day, and as a result, 22,132 out of 31,243 people (voter turnout of 70.84%) participated, passing with 19,412 votes in favor (87.71%) and 2,720 votes against (12.29%).

The tentative agreement between the management and the union includes a 5.1% average wage increase rate (3.0% base increase rate, 2.1% performance increase rate) and providing all employees with 30 shares of the company's stock and 2 million FamilyNet Mall points that can be used to purchase the company's products.

Samsung Electronics and its labor union have also decided to institutionalize a post-retirement re-employment plan for employees with three or more children. They also plan to operate a joint labor-management task force (TF) to improve the performance-based pay system.

In particular, since the institutionalization of a plan to rehire employees with three or more children after retirement has been confirmed, attention from both inside and outside the industry is expected to focus in the future. Samsung Electronics is the first major domestic company to institutionalize such a rehire plan.

The 2023-2024 wage agreement has also been finalized. With this agreement, Samsung Electronics has been able to reduce its ‘union risk.’ Last November, the labor and management reached a tentative agreement on the 2023-2024 wage agreement, which was rejected in a vote by union members. With this agreement, Samsung Electronics has thrown away three years’ worth of agreements at once.

However, issues that require resolution include significant differences of opinion between labor and management, such as the Semiconductor Special Act, which includes exceptions to the 52-hour workweek and lawsuits over regular wages.

Vice President Choi Wan-woo (People Team Leader) stated, “This wage and collective agreement is a turning point toward labor-management harmony, and we will use this as an opportunity to join forces and do our utmost to strengthen business competitiveness.” Former Samno Chairman Son Woo-mok expressed his determination, saying, “We will continue to improve the treatment of union members in the future.”