Samsung Display workers and the company’s management have agreed on a tentative pay raise for this year. The average increase will be 6.2%, which includes a 4.1% base raise and 2.1% extra based on performance.

Along with the pay raise, the agreement includes new benefits for workers. Employees could get a three-day special leave every five years. The company will also help workers without homes by offering housing support.

In addition, monthly fixed overtime hours will be reduced from 14 hours to 12 hours. Negotiations for the new pay deal started in January. If the agreement is approved by workers, it will be the fifth year in a row that Samsung Display has finished wage talks without any problems since 2022.

The next step is for the labor union to hold a vote. Union members will vote to approve or reject the agreement. If most workers vote yes, the deal will become official, and the new pay and benefits will start.

Union leaders said the deal is fair for both workers and the company. The pay raise and extra benefits are expected to make employees happier and more motivated. This agreement shows that Samsung Display and its workers are working well together. 

The new deal will give workers more financial security, better working hours, and extra support for housing and leave.

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