LS Electric Reaches Wage and Collective Agreement Without Negotiations for Second Consecutive Year

LS Electric has successfully concluded the wage and collective agreement (wage and collective bargaining agreement) without negotiations for the second consecutive year, following last year.

LS Electric announced that it held the "Wage and Collective Bargaining Agreement Delegation and $1.2 Billion Export Achievement Commemorative Worker-Management Win-Win Agreement Ceremony" on the 10th at LS Yongsan Tower in Yongsan-gu, Seoul. Koo Ja-kyun, Chairman of LS Electric (center), Chae Dae-seok, CEO of LS Electric (left), and Lee Ho-jung, Chairman of the Labor Union, are taking a commemorative photo after signing the wage and collective bargaining agreement delegation. LS Electric

LS Electric announced on July 12 that it held the "2026 Wage and Collective Agreement Delegation and $1.2 Billion Export Achievement Commemorative Worker-Management Win-Win Agreement Ceremony" at LS Yongsan Tower in Yongsan-gu, Seoul, on July 10, attended by Chairman Koo Ja-kyun, CEO Chae Dae-seok, Labor Union Chairman Lee Ho-jung, and Worker-Management Council representatives.

Chairman Koo said, "I would like to thank the labor union and all employees for making a broad-minded decision again this year, following last year," adding, "If workers and management come together as one to strengthen our unparalleled competitiveness and continue investing in future strategic industries, we will be able to leap forward as a leading company in the global power market."

LS Group has used the term "worker-management" instead of "labor-management" (workers and employers), and LS Electric has decided to officially use the term "workers and management" in this agreement.

CEO Chae said, "We will work together as workers and management to seize the boom in the global power market as a growth opportunity and lead the key industries of the future."

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