HJ Shipbuilding & Construction first among Korean shipbuilders to reach 2026 wage deal

HJ Shipbuilding & Construction announced Monday that its management and union have become the first in the domestic shipbuilding industry to conclude their 2026 wage and collective bargaining agreement.

The two sides began negotiations in May and reached a tentative agreement on Sept. 16. The deal was ratified the following day after 69.4 percent of union members voted in favor, and a signing ceremony was held Monday.

Management and labor agreed on improvements to employee compensation, including a base pay increase of 80,000 won ($59), a 2026 performance bonus of 6 million won and a settlement bonus of 2 million won.

The early resolution stands out as other major domestic shipbuilders continue to struggle through their own wage negotiations this year. The agreement also reflects a shared understanding between management and labor to build on improving industry conditions and the company's earnings growth to secure a foundation for sustainable development.

HJ Shipbuilding & Construction plans to use the concluded agreement as a springboard to raise productivity and technological capabilities, focusing on strengthening competitiveness in key businesses including eco-friendly and high-value-added vessels, special-purpose ships, and naval vessel maintenance, repair and overhaul.

"We will do our utmost to contribute to the company's continued growth and the advancement of the national shipbuilding industry, building on the spirit of trust and cooperation that underpinned this agreement," CEO Yoo Sang-chul said.