AXA Direct General Insurance labor and management recently reached a final agreement on a wage and lump-sum payment plan.
According to the insurance industry on the 15th, labor and management at AXA Direct agreed in wage and collective bargaining in Aug. to raise this year's wages by 2%. The increase is said to be similar to last year's rate. In addition, AXA Direct will pay a lump-sum 1 million won to all employees as a celebration bonus for concluding the negotiations.
AXA Direct is seen as keeping the wage increase rate similar to last year's due to deteriorating earnings. Last year, AXA Direct's net profit was 1.9 billion won, down 88.9% from a year earlier. An AXA Direct official said, "The wage increase rate is similar to last year, but we concluded the talks on the condition of strengthening welfare benefits."
In the second half of this year, major insurers have been concluding wage and collective bargaining one after another. Recently, Heungkuk Fire&Marine Insurance, Hyundai Marine & Fire Insurance, and Hanwha General Insurance agreed on wage and lump-sum payment plans.