LS Electric has successfully concluded its labor and management agreement (LMA) without negotiations for the second consecutive year. The company aims to focus on enhancing future investments and business competitiveness instead of labor disputes during a period of market growth driven by increased global investment in power infrastructure.
On July 10, LS Electric held a ceremony at the LS Yongsan Tower in Seoul, attended by Chairman Koo Ja-kyun, CEO Chae Dae-seok, and Union Chairman Lee Ho-jung, among others, to commemorate the delegation of the LMA and the achievement of $1.2 billion in exports.
With this delegation, LS Electric has completed its LMA for the second year in a row without negotiations, following its first non-negotiated agreement last year. The company explained that the increase in demand for electrical equipment, driven by the global power industry supercycle and expanded investments in artificial intelligence (AI) data centers, has led both labor and management to align on future growth strategies.
Chairman Koo expressed gratitude to the labor union and employees for their decisive actions, stating, "I appreciate the labor union and employees for making a significant decision again this year. We will continue to strengthen our competitive edge and invest in future strategic businesses such as direct current (DC) to lead the global power market."
LS Group has emphasized a partnership approach, using the term 'labor-management' instead of the traditional 'labor' terminology, and has formalized the use of 'workers and management' to reflect a culture that respects workers as partners in management.
Union Chairman Lee noted, "The result is based on the genuine communication from management and the trust in a culture that respects workers, allowing us to consider the company's future together." CEO Chae also stated, "We will work together under the same goals to leverage the booming global power market as a growth opportunity and secure competitiveness in key future industries."
On July 10, LS Electric held a ceremony at the LS Yongsan Tower in Seoul, attended by Chairman Koo Ja-kyun, CEO Chae Dae-seok, and Union Chairman Lee Ho-jung, among others, to commemorate the delegation of the LMA and the achievement of $1.2 billion in exports.
With this delegation, LS Electric has completed its LMA for the second year in a row without negotiations, following its first non-negotiated agreement last year. The company explained that the increase in demand for electrical equipment, driven by the global power industry supercycle and expanded investments in artificial intelligence (AI) data centers, has led both labor and management to align on future growth strategies.
Chairman Koo expressed gratitude to the labor union and employees for their decisive actions, stating, "I appreciate the labor union and employees for making a significant decision again this year. We will continue to strengthen our competitive edge and invest in future strategic businesses such as direct current (DC) to lead the global power market."
LS Group has emphasized a partnership approach, using the term 'labor-management' instead of the traditional 'labor' terminology, and has formalized the use of 'workers and management' to reflect a culture that respects workers as partners in management.
Union Chairman Lee noted, "The result is based on the genuine communication from management and the trust in a culture that respects workers, allowing us to consider the company's future together." CEO Chae also stated, "We will work together under the same goals to leverage the booming global power market as a growth opportunity and secure competitiveness in key future industries."
* This article has been translated by AI.
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