Wage and collective bargaining (wage-bargaining) between KakaoBank labor and management that has been underway since January this year has broken down. Currently, labor unions at five Kakao entities, including the headquarters and affiliates, are holding a general strike while negotiating wage-bargaining with management, but there has been no progress. In this situation, the likelihood that KakaoBank will also join the general strike has grown.
According to ChosunBiz reporting compiled on the 9th, KakaoBank labor and management met several times from January to recently, but talks ultimately collapsed. A KakaoBank union official said, "With wage-bargaining breaking down, a mediation process remains. If mediation also fails, a strike ballot will be held, and if half of participating members vote in favor, a strike will begin." The date for the first mediation has not yet been set.
Until early last month, the union side drew a line, saying, "Since talks are ongoing, it is not the stage to discuss a strike. It is also impossible to join a general strike due to scheduling." However, after negotiations remained stuck and finally collapsed, the possibility of joining a strike opened.
Five entities, including Kakao headquarters, Kakao Pay, Kakao Enterprise, DKTechin, and XLGAMES, have been conducting wage-bargaining, staging a four-hour partial strike on the 10th of last month and a day of annual-leave action called "Logout Day" on the 29th. However, the two sides have not narrowed their differences.
The key condition the Kakao union is demanding from management is performance-based bonuses. According to the industry, management proposed a level equivalent to 10% of annual operating profit, combining cash and company stock. The union is demanding 13% to 15%. The detailed demands vary somewhat by affiliate.