LS Electric, 2consecutive years of wage and collective agreement talks settled without negotiation, export 12billion-dollar milestone
LS Electric(010120) held the 'Employee-Management Co-prosperity Agreement Ceremony to delegate wage and collective bargaining and celebrate export 10billion-dollar achievement' on the 12and said it had settled this year's wage and collective agreement talks without negotiation, following last year. The company explained that the agreement was reached to secure future competitiveness amid expanding global power infrastructure investment.2consecutive years of wage and collective agreement talks were settled without negotiation on the 12day.
LS Electric(010120) held an agreement ceremony at LS Yongsan Tower in Yongsan District, Seoul, on the 10day and settled the wage and collective agreement without negotiation. LS Electric announced this fact on the 12day.
The event was titled the 'Employee-Management Co-prosperity Agreement Ceremony to delegate wage and collective bargaining and celebrate export 12billion-dollar achievement.' The company said it marked export 12billion-dollar achievement together with this agreement.
Chairman Koo Ja-kyun, CEO Chae Dae-seok, and labor union committee chair Lee Ho-jeong attended the event. The company said the attendees agreed with the purpose of the agreement.
LS Electric cited the expansion of global power infrastructure investment as the background for reaching an agreement without bargaining. The company said the workforce came together with the aim of securing future competitiveness by making the most of this opportunity.
The company said there had been a risk of a strike during annual wage-and-labor negotiations every year, but that this time it reduced uncertainty through an agreement. It did not disclose details of the agreement, including any specific wage increase rate.
Going forward, the company plans to update the status through disclosures related to export performance. Additional disclosures related to this agreement can be confirmed in regular reports.