On August 12, Samsung Electronics labor union and management will sign a collective agreement for the first time since its foundation.
According to Samsung Electronics and its union on August 8, Samsung Electronics and the union's joint negotiation team recently recently reached a final agreement on a collective agreement and decided to sign a single agreement on August 12.
"A final agreement has been reached between labor and management on the negotiation proposal, and the signing ceremony remains," said a company official.
The venue will be at the Samsung Electronics Giheung Campus in Yongin, Gyeonggi Province.
Samsung Electronics had more than 30 negotiations starting in November last year and reached a tentative agreement on July 30. The largest Samsung Electronics union under the KCTU voted 96 percent in favor of the collective agreement.
A collective agreement is a written negotiated contract negotiated through collective bargaining for employees by one or more trade unions with the management of a company that sets regulations and terms and conditions of employees at work, which includes wages, benefits and duties and responsibilities of employees and employers.
Under the labor union law, the government will have a compulsory power that takes precedence over employment rules and individual labor contracts.
Samsung Electronics' collective agreement consists of 95 clauses, including conditions on the union such as securing labor offices and its activities, dealing with industrial accidents and enhancing the personnel management system.
Based on the signing of the collective agreement, the labor union plans to conduct wage negotiations for 2021.
Samsung Electronics Vice Chairman Lee Jae-yong said in May last year, "Samsung Electronics will abolish the company's no-union management policy and guarantee three labor rights thoroughly."
