KEF Welcomes Samsung Electronics Labor-Management Agreement, Says Bonus Demands Should Not Spread Across Industries

[Financial News] The Korea Employers Federation (KEF) welcomed the tentative wage agreement reached by Samsung Electronics management and labor on the 20th without a strike.
KEF said it viewed the outcome positively, noting that both sides made concessions and avoided the worst-case scenario of a strike amid intensifying competition in the semiconductor industry and growing uncertainty in global markets.
It also voiced concern. Because the agreement reflected Samsung Electronics' unique circumstances, it said labor should not use it as a basis to expand excessive bonus demands to other industries.
KEF urged Samsung Electronics management and labor to use the agreement as a stepping stone to quickly remove remaining uncertainty and build a stable labor-management relationship.
eastcold@fnnews.com Kim Dong-chan Reporter