Samsung signs wage agreement after union's first strike

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Samsung signs wage agreement after union's first strike

Samsung Display on Thursday signed a wage agreement with its labor union as some of its unionized workers have been staging strikes for the first time in the company's history.
The union on Monday accepted the company's proposal of a 4.5 percent raise, which was approved by 83 percent of its members in a vote.
The agreement came after six union representatives began industrial action on June 21, demanding a 6.8 percent hike in base pay, in the first-ever walkout at the world's largest mobile display maker.
The strike was the first among electronics affiliates of Samsung Group.
It was also the first walkout at a Samsung company since Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of Korea's top conglomerate, pledged to discard the "no labor union" policy in May last year.
Samsung Display's union was launched in February last year under the Federation of Korean Trade Unions. It has about 2,400 members, or 10 percent of the total company workers.
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