사진 확대
Wage and collective bargaining talks at major South Korean conglomerates are entering their final, and often painful, stretch. At SK hynix, where a record-setting bonus package drew intense attention, the union held last-round talks over whether performance pay should be distributed in company stock. POSCO, which has maintained a no-strike tradition since its founding in 1968, now faces the possibility of its first full-scale strike.
According to industry sources on the 18th, SK hynix management and labor held a meeting between their representatives and continued last-minute negotiations. After the sixth round of relay talks on the 12th, the two sides held marathon negotiations from the 15th to the 17th and focused on key points of contention. The union said the previous day that it had shared the progress of the talks with members and that negotiations had passed the 90% mark.
The biggest issue in this year’s wage and collective bargaining talks at SK hynix is the method of paying performance bonuses. Last year, the two sides agreed to abolish the cap on profit-sharing bonuses, known as PS, funded by 10% of operating profit, and to maintain that system for 10 years. Under the agreement, 80% of the PS payment would be paid in cash in the same year, while the remaining 20% would be deferred over two years.
Management, however, proposed changing part of the bonus system this year by paying a large portion of the incentive in company stock and restricting sales for a certain period. Employees at SK hynix strongly objected to the fact that the bonus system agreed upon by labor and management last year was being put back on the bargaining table.
The likelihood of POSCO’s first full-scale strike has risen sharply. The National Labor Relations Commission decided to suspend mediation after the two sides failed to reach an agreement at the third and final mediation meeting for this year’s wage and collective bargaining talks on the 18th. As a result, the POSCO Labor Union secured the legal right to strike.
Labor and management began talks with a courtesy meeting on June 16 and held six rounds of formal negotiations, but the talks broke down on the 23rd of last month. The union demanded a 7.1% increase in base pay and a bonus equal to 600% of monthly salary. Its proposal also included 50 shares of employee stock ownership and a 200% holiday bonus. According to management, meeting all of the union’s demands would require a total of 1.4 trillion won, about twice last year’s request. Management presented an additional revised proposal on the day, but the gap remained too wide to bridge. It offered a 1.5% increase in base pay with no performance target condition, a 2.5 million won incentive payment, and 2 million won in annual holiday bonuses.
With the right to strike secured, the chances of an actual walkout have increased. In a vote on strike action held on August 8 and 9, union members approved the move with a record-high 97.09% turnout and 92.17% support.
Labor and management at Hyundai Motor Company also resumed full wage negotiations at the Ulsan Plant on the 18th, but failed to narrow their differences. The union decided to stage four-hour partial strikes on the 19th, 20th, 24th, and 25th. It also plans an eight-hour full strike on the 21st, along with a rally in Yangjae-dong, where the company’s headquarters are located in Seoul’s Seocho District.
[Lee Deok-ju / Jeong Ji-seong / Han Ji-yeon]
This article has been translated by GripLabs Mingo AI.