Signed an update of the collective agreement at Hyosung S.A.
Tahir osman, Unsplash
OGBL, LCGB and the management of Hyosung S.A. signed a new collective labour convention for the 120 employees of the Luxembourg-based company. The agreement will run from 1 January 2025 to 31 December 2027 and was reached in a constructive social dialogue despite the unpredictable economic situation.
The new agreement includes:
- Salary increases over a three-year period, which ensures stable income growth for employees.
- Revision and increase of retirement bonus, which improves social protection of employees.
- An increase in the number of holiday days, which promotes a better work-life balance.
- Introduction of a new responsibility bonus that will motivate employees to take on more responsible tasks.
The other provisions of the collective agreement remained unchanged.
OGBL and LCGB noted that the new collective convention was the result of successful negotiations in a difficult economic environment. It recognises the outstanding contribution of Hyosung S.A. employees to the development of the company in recent years.
Hyosung S.A. specialises in the production of synthetic textile fabrics that are used in the industry to reinforce tyres. These materials reinforce the structure of tyres, increasing their durability and performance. The company plays a key role in the supply chain of the automotive industry, ensuring high quality standards for its products.
