Labor union of Oracle Systems Korea.
The labor union of Oracle Systems Korea, the Korean unit of the U.S.-based IT giant Oracle Corp., has been on strike for the longest days in the history of foreign IT companies operating in South Korea, in protest against low wages and too much pressure on individual performance.
The workers have been striking since May 16 arguing that their base salary have been frozen over the last decade and they are under too much stress to achieve excessive targets as almost half of their payment is tied to individual performance. Among the company’s 1,200 workers, 500 are unionized.
The union said that they failed to reach an agreement with the management despite several negotiations. The workers recently filed for a petition with the Ministry of Employment and Labor for investigation on unfair labor practices.
Oracle has been dominating the nation’s corporate database market with almost 90 percent of Korean firms using Oracle products. The company has been in a legal battle after the National Tax Service slapped a corporate tax of 315.7 billion won ($281 million) in 2016 for alleged tax evasion. The tax authority suspected the company avoided corporate taxes of about 2 trillion won through a tax haven in Ireland.
By Hwang Soon-min and Choi Mira
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]