By Kwanwoo Jun

Samsung Electronics' management and union negotiators have agreed on a 5.1% wage increase for this year.

Each Samsung employee will also receive 30 stocks and a two-million-point online shopping reward, which can be used to purchase Samsung goods, as perks under the preliminary deal, the South Korean technology company said in a statement Monday.

Members of the National Samsung Electronics Union, which currently claims to have around 36,000 members, will vote on the deal for approval by March 5, the company said.

Management and union representatives will also launch a joint task force to enhance the bonus system, it added.

Unionized Samsung workers last year launched their first-ever walkout to press for higher wages and other demands. The labor unrest, however, caused no major disruptions to highly automated chip-making productions.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

February 24, 2025 02:06 ET (07:06 GMT)

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