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LS Electric has reached its wage and collective bargaining agreement without negotiations for the second consecutive year, following last year. Labor and management agreed to focus their capabilities on securing future competitiveness to avoid missing the growth opportunity presented by expanding global power infrastructure investment.
LS Electric said on the 12th that it held the "2026 Wage and Collective Bargaining Delegation and Ceremony Celebrating $1.2 Billion in Exports and Worker-Management Win-Win Agreement" on the 10th at LS Yongsan Tower in Yongsan-gu, Seoul, with Chairman Koo Ja-kyun, CEO Chae Dae-seok, and labor union chairman Lee Ho-jung in attendance.
Chairman Koo said, "I am grateful to both the union and all employees for making a magnanimous decision this year as they did last year," adding, "If workers and management strengthen our unrivaled competitiveness with one mind and continue investing in future strategic industries including direct current (DC), we will be able to leap forward as a company leading the global power market." CEO Chae added, "Workers and management will join forces so that we can lead future core industries by seizing the global power market boom as a growth opportunity."
This decision to delegate the wage and collective bargaining stems from the solid trust LS Electric has built by unwaveringly fulfilling its promise to "guarantee industry-best treatment" to employees based on the company's performance. Chairman Lee said, "This is the result of contemplating the future together, based on the sincere communication management has shown, its efforts for industry-best treatment, and trust in a company that respects workers." In response, Choi Kyu-tae, director of human resources at LS Electric, said, "We will maintain a continuous relationship of trust through a win-win culture that respects workers as partners in management."
Meanwhile, LS Group has used the expression "labor and management" (nogyeong, referring to workers and management) instead of "labor and employer" (nosa), and LS Electric decided to officially adopt the expression "workers and management" on the occasion of this agreement.
