Kakao (035720) and its labor union have reached a tentative agreement in this year’s wage negotiations, raising the likelihood that a prolonged dispute will come to a close.
According to industry sources on the 29th, Kakao’s management and union reached a tentative agreement in this year’s wage talks that day. The Kakao labor union (the Kakao chapter of the Chemical and Food Workers’ Union under the Korean Confederation of Trade Unions, known as Crew Union) is expected to soon hold a briefing for its members to share the details of the agreement. It will then conduct a vote on whether to accept the terms.
The two sides agreed not to disclose specific details, such as the wage increase rate and compensation standards, until a final settlement is reached. If members approve the agreement in the vote, this year’s wage negotiations will be finalized through a signing ceremony.
Management and the union had continued negotiations without narrowing their differences over the wage increase rate and compensation system. Last month, the union held a “Logout Day,” a one-day work stoppage targeting members at five entities including Kakao and Kakao Pay. On the 21st of this month, it staged in-house picket protests to pressure management.
If the tentative agreement passes the members’ vote, the labor dispute surrounding this year’s wage negotiations will also come to an end.
In response, Kakao said, “We have tentatively agreed on the wage agreement,” adding, “The detailed terms will be disclosed upon final settlement.”