Wemade Co., Ltd. Union Formed… "Concerns Over Job Security Ahead of Major Shareholder Change"
National Synthetic Fiber Workers' Union Establishes Wemade Co., Ltd. Branch on the 30th
Concerns Over Job Security Amid Upcoming Change in Major Chinese Shareholder
Calls for "Employment Stability and Management Transparency"
Resolution to Maintain Core Businesses, Including Wemix, and Protect Members
[Edaily Reporter An Yu-ri ] A labor union has been established for the first time at Wemade Co., Ltd.(112040)ahead of a change in its major shareholder. The union expressed concerns about the continuation of core Wemix-related businesses following the change in major shareholder to Chinese capital and demanded job security.
Exterior view of the Wemade Co., Ltd. headquarters (Photo: Wemade Co., Ltd.)
The Wemade Co., Ltd. Branch of the National Chemical, Textile, and Food Industry Labor Union announced its official launch on the 30th by issuing a declaration of establishment.
Wemade Co., Ltd. is currently facing a change in its largest shareholder following the sale of all shares held by its founder, Chairman Park Kwan-ho. Once the acquisition process is finalized on October 30, NeoPulse—a Chinese consortium comprising Kingnet and others—will become the largest shareholder, holding a 40.25% stake in Wemade Co., Ltd.
The Wemade Co., Ltd. Branch claimed that, amid growing internal and external uncertainties—including poor financial performance and pending issues related to WEMIX—management has remained silent regarding future organizational operations and job security.
In its founding declaration, the Wemade Co., Ltd. Union stated: “Wemade Co., Ltd.’s growth to date has been made possible by the hard work of all workers—including developers, business departments, operations departments, and support departments—who have dedicated themselves day and night on the front lines,” but criticized that “amid a rapidly changing market environment, the fruits of project success have been concentrated among specific executives and shareholders, while the responsibility and anxiety stemming from business changes or poor performance have fallen solely on individual workers.”
Marking this launch, the Wemade Co., Ltd. Union plans to demand that the company: △ reject restructuring and layoffs justified by changes in major shareholders or organizational restructuring; △ prevent unilateral deterioration of working conditions and improve the performance-based bonus system; △ ensure management transparency by mandating prior consultation when shifting major business directions; and △ confirm the legitimate transfer of employment and the continuation of key business units, including the Wemix business.
In its founding declaration, the branch resolved, “No matter who the major shareholder becomes, the true owners who have built Wemade Co., Ltd. are us, the workers, and we will use our organized strength to end employment insecurity and create a fair and healthy workplace.”
Meanwhile, the Chemical, Textile, and Food Workers’ Union (National Union of Chemical, Textile, and Food Industry Workers), affiliated with the Korean Confederation of Trade Unions (KCTU), counts workers from major South Korean game companies—including Neople, Nexon, Smilegate, NCSoft, Webzen Inc., and Netmarble Corporation—among its members.
A Wemade Co., Ltd. official stated, “The company respects the union’s rights and will comply with relevant laws and procedures, and we will build a constructive labor-management relationship through mutual respect and open dialogue.”
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A labor union has been established for the first time at Wemade Co., Ltd.(112040)ahead of a change in its major shareholder. The union expressed concerns about the continuation of core Wemix-related b…