Wemade Union Established After Chinese Acquisition: "Job Security Must Be Guaranteed"

Establishment of Branch under the Chemical, Textile, and Food Workers' Union
"Rejecting Restructuring and Improving Performance-Based Compensation System"

A labor union has been established at Wemade, a domestic game company that was acquired by Chinese capital.

Wemade Corporate Identity (CI). Provided by Wemade

The Korean Federation of Chemical, Textile, Food and Service Workers' Unions (KCTFWSU) announced on September 30 that the Wemade branch has been officially launched.

In its declaration issued the same day, the Wemade branch explained the background of its establishment, stating, "Amid the rapidly changing market environment, the fruits of project success have been concentrated among particular executives and shareholders, while responsibilities and uncertainties arising from business changes or poor performance have fallen entirely upon individual workers."

The union further stated, "The growth of Wemade so far has only been possible thanks to the dedication of developers as well as staff in business, operations, and support departments who have worked day and night on the front lines. With our collective strength, we aim to put an end to job insecurity and create a fair and healthy workplace."

The Wemade union plans to demand, through collective bargaining with management: ▲Rejection of restructuring and layoffs arising from changes in major shareholders and organizational restructuring ▲Opposition to any unilateral worsening of working conditions ▲Improvement of performance-based compensation systems ▲Mandatory prior consultation on major changes in business direction ▲Guaranteeing legitimate employment succession and continued existence of major business units, including the WEMIX business.

The IT Committee under the KCTFWSU includes unions from multiple IT and gaming companies such as Naver, Kakao, Nexon, Smilegate, XL Games, Webzen, NC, and NHN.

In June, Wemade publicly announced that Kwanho Park, the chairman, would sell his 39.33% stake to Neopulse, a Chinese investment platform. Neopulse will acquire the shares for approximately 920 billion won. Neopulse has formed a consortium with major Chinese game company Kingnet; if the acquisition process is completed by October 30, the consortium will become Wemade's largest shareholder with a 40.25% stake.

This content was produced with the assistance of AI translation services.