Collective Bargaining Agreement Korea

This week, the FMC Korea Union announced a historic new collective agreement (CBA) with Fresenius FMC. This agreement, the first of its kind, aims to improve the lives of Korean workers and ensure trade union rights and better working conditions for HSF workers in South Korea. In many cases, high collective coverage compensates for a weak union relationship to ensure better working conditions for those working for small businesses. For example, France`s collective coverage is 98 percent, although its unionization rate is 11 percent. South Korea`s tariff coverage is only 12 per cent, while the OECD average is 32.2 per cent. The Labour Act, which sets minimum standards for a large number of working conditions, is of pervasive importance in labour law. .