Daewoo shipbuilding makes agreement with its union

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Daewoo shipbuilding makes agreement with its union

Daewoo Shipbuilding and Marine Engineering, one of the nation’s top three shipbuilders, said yesterday that it had reached a wage agreement with its union, marking 24 strike-free years.

The company, which began negotiations in May, said that it reached the tentative agreement on Wednesday, which was passed by the union yesterday with a 56.6 percent approval.

The deal includes increasing the monthly base wage by 13,000 won ($12.5), a 2.8 million won agreement-signing bonus, extending the retirement age to 60 and donating 4 billion won for an in-house welfare fund.

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