Following Hanwha Ocean, Samsung Heavy Industries, and HD Hyundai Heavy Industries, labor and management at HD Hyundai Samho have reached an agreement on wage negotiations.
HD Hyundai Samho recently announced that its union approved the 2025 wage negotiation agreement with a 58.1% approval rate. HD Hyundai Samho’s union has a total of 2,018 members, with 1,789 participating in the vote. The tentative agreement was ultimately approved with 58.1% (1,039 votes in favor), 41.1% (736 votes against), and 0.8% (14 votes) being invalid.
The agreement’s key provisions include: a base wage increase of 135,000 KRW (approximately $96.11, including seniority-based raises), distribution of a 6.4 million KRW bonus (approximately $4,556.16, including 200,000 KRW in gift certificates), a special incentive payment (equivalent to 100% of the agreed wage), and a KRW 3 billion (approximately $2.136 million) injection into the company’s employee welfare fund.
An official from HD Hyundai Samho stated: “It is fortunate that this year’s labor-management negotiations concluded with a satisfactory agreement based on mutual trust and understanding. The company will continue to strive for sustainable growth and enhanced employee benefits.”
Prior to this, HD Hyundai Heavy Industries, Samsung Heavy Industries, and Hanwha Ocean have each reached new negotiation agreements for 2025.
- The key terms of the agreement with HD Hyundai Heavy Industries include: a base wage increase of 133,000 KRW (approximately $94.68, including a 35,000 KRW seniority-based promotions), and a bonus of 5.2 million KRW (approximately $3,701.88).
- The Samsung Heavy Industries agreement includes: an average base wage increase of 133,196 KRW (approximately $94.82); distribution of a 5 million KRW (approximately $3,559.50) labor-management harmony bonus; and an increase in welfare points by 1 million KRW (approximately $711.90, up 100,000 KRW from last year).
- Hanwha Ocean’s agreement includes the following key terms: a base wage increase of 123,262 KRW (approximately $87.75, including 23,262 KRW for seniority-based promotions), and a one-time bonus payment of 5.2 million KRW (approximately $3,701.88).
In comparison, HD Hyundai Samho is the most generous in terms of base wages and bonuses.