Samsung Electronics, union reach tentative wage deal for 5.1% pay hike

This photo shows the Samsung Electronics office in Seoul, Jan. 31. Yonhap Samsung Electronics and its labor union on Monday reached a tentative wage agreement, which includes an average 5.

1 percent pay raise for 2025, officials said. The deal comes after 48 days of negotiations, which began on Jan. 7.



Under the agreement, employees will receive a 3 percent increase in base salary and a 2.1 percent rise in bonuses, along with 30 treasury shares per employee, according to officials. The two sides also agreed to form a joint task force to improve the bonus system, with updates shared every six months.

The deal is subject to a vote by the union, which said it will likely be held before next Wednesday. Samsung Electronics and the National Samsung Electronics Union (NSEU), the biggest labor union at the tech giant, failed to reach a wage deal throughout last year. The NSEU represents some 36,000 workers, or about 30 percent of the company's total workforce.

In response to stalled negotiations, the NSEU staged the first-ever strike in Samsung Electronics' history last year. "We will focus on strengthening our business competitiveness by using this wage agreement as an opportunity for labor-management harmony," an official from Samsung Electronics said. (Yonhap).