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Photo = Daewoo Construction |
[Alpha Biz= Paul Lee] Seoul, June 9 – The labor union of Daewoo Engineering & Construction (Daewoo E&C) issued a strong statement on June 9, accusing company management of unilaterally breaking a previously signed labor agreement and demanding immediate implementation of wage increases promised under that deal.
In the statement, the union condemned the leadership, including CEO Kim Bo-hyun, for what it called a “brazen breach” of the 2022 labor-management agreement signed during the acquisition of Daewoo E&C by Jungheung Group. The agreement stipulated that Daewoo E&C employees’ salaries would be raised to match those of the industry’s top three companies within three years.
However, during the second round of negotiations for the 2025 collective bargaining agreement, held on June 5, management stated that “the current financial situation makes fulfilling the commitment difficult.”
The union responded harshly, saying, “The cooperative labor-management relationship we painstakingly built over the past three years has collapsed in less than six months under CEO Kim Bo-hyun’s leadership.”
Expressing deep disappointment, the union added, “To see the CEO discard the employees’ trust like an old rag and claim he cannot make any commitments is devastating. The constant emphasis on business difficulties without offering any alternatives is unjustifiable, and we can no longer remain silent.”
The union is demanding:
Immediate implementation of wage increases to match the levels of the top three construction firms, as stated in the 2022 agreement;
Reforms to the performance-based bonus system.
The union vowed to wage an all-out campaign until their demands are met, stating, “We will mobilize all available resources to fight until our rightful demands are fulfilled.”
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
