Naver Reaches Tentative 5.3% Wage Deal, Contrasting Kakao Union’s 15% Profit Demand

Naver has reached a tentative agreement with its labor union, the Naver branch of the Korean Chemical and Food Workers’ Union, on a 5.3% wage increase for this year. A vote by union members is expected to take place soon, and if approved, the company will conclude wage talks early. The agreement stands in contrast to Kakao, where the union is demanding 15% of operating profit amid ongoing negotiations. Naver’s early labor agreement could support faster progress on new businesses, while Kakao’s bargaining outlook remains uncertain. Source: mk.co.kr