Daewoo Shipbuilding reaches wage deal with union
Date
12/21/2017 3:47:19 AM
(MENAFN) Daewoo Shipbuilding & Marine Engineering Co. declared it has reached a tentative wage agreement with its union.
According to a company official, based on the deal, the two sides have agreed to halt wages and turned many allowances worth about 1.25m into basic wages.
He said that 6,000 union members are prepared to vote on Friday whether or not to approve the deal.
Shipbuilders of South Korea have been under intense financial tension since the global economic crisis of 2008, which led to the fall of new orders among an excess of vessels and tougher competition from Chinese rivals.
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