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Samsung employees agree to 5.1 pc pay raise for 2024

Samsung Electronics Co.’s management and its workers agreed to an average 5.1 percent pay raise for the year, sources said Friday.

The world’s largest memory chip and smartphone maker reached an agreement with representatives of its employees over wages and extending maternity leave, according to the sources.

This year’s 5.1 percent pay raise is higher than the 4.1 percent wage hike of the previous year.

Samsung Electronics said it has decided to raise wages by some 5 percent to boost employee morale despite continued global uncertainty.

Separately, Samsung’s unionized workers, which accounted for around 4 percent of the total 110,000 workers, have called for a 6.5 percent wage hike and engaged in wage negotiations with the management since late last year. MSN

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