Yang Chairperson of the Korean Confederation of Trade Unions (KCTU) said on the 10th, regarding the distribution of excess profits at large corporations triggered by the labor-management agreement at Samsung Electronics, that "bonuses are also subject to labor-management negotiations."
Yang Chairperson said this at the "one year of the Lee Jae-myung administration press briefing" held at the Korean Confederation of Trade Unions in Jung District, Seoul, the same day, noting, "There are concerns that the government is putting distribution on the back burner and placing the center of gravity on the growth of corporations."
Yang Chairperson said, "The fact that the government and the Central Labor Relations Commission mediated the labor-management talks at Samsung Electronics indirectly confirms that bonuses are subject to labor-management negotiations." Yang also said, "During the Samsung Electronics union strike, 15% of operating profit was demanded, but there was no discussion of what to do with the remaining 85%."
He went on, "Just as there was discussion of a windfall tax when oil prices soared four to five years ago and refiners made enormous profits, such debates will recur with each boom by sector." Yang Chairperson added, "Through tripartite talks among labor, management, and government, we need to consider returning benefits to society."
Regarding arguments in some quarters that a plan to pay N% of operating profit as bonuses should be discussed at a shareholders' meeting, he said, "The distribution of operating profit is a matter that requires discussion with workers." Yang Chairperson said, "Creating a mechanism through a shareholders' meeting resolution is a means to evade (bonus payments)."
On the Lee Jae-myung administration's labor policy, he said, "Looking back at the past year, it still remains around 70 points." Yang said, "We must resolve the polarization of the labor market and give subcontracted workers and indirectly employed workers the confidence that they can be treated adequately and live through wage income." He added, "In that line of thought, it is hard to give a high score, but it is also hard to give a failing grade."