Huvis, the Largest Domestic Chemical Fi ber Company, Settles the freezing of wages in 2007 Without Negotiations
 
Huvis(CEO Sung-hwan Moon, www.huvis.com), the largest polyester manufacturer in Korea, in with 1,000 Billion Won in sales, stated that there was an agreement with the labor union in freezing wages.  The labor union of the Jeonju and Ulsan factories presented the non-negotiated freezing proposal to the company, and the company accepted this proposal.  There was a signing ceremony for wage and collective agreement freezing on 11 am, May 21 in the conference room at Samsung-dong Huvis headquarters.
 
Huvis, created from the separation and unification of SK Chemicals and Samyang corporation’s fiber department, had been making profit for the first three years.  However, from China’s enlargement and oversupplying, the industry has been taking losses, aggravating revenue and expenditure.
 
Since the inauguration of President Sung-hwan Moon last August, Huvis went through reform in areas such as production, sales, and purchase. Along with this, there was successful launching of new material and new products through thorough selection, and management began making profit since last December.

Huvis’s labor union agreed to the freezing of wages because they believe that the company should create a firm basis for profit-making management and secure its competitive advantage over China and other countries, and also believe the company will not repeat what they went through for the past three years.
 
The two union leaders of the two Huvis factories, Ju-wan Park and Gwang-rae Kim said, “When the US-Korea FTA come into effect after 2 years, Huvis, world’s No.3 company in polyester fiber production will have a competitive advantage in exporting to the US.  It is from this bright outlook that we agreed to the freezing of wages.”  In response, the company replied, “the company thanks the union for agreeing with the freezing of wages for the development and growth of the company, and the company will achieve the management goals in order to provide workers better working conditions of laborers.