Naver Z union launches strike over wage freeze dispute

The labor union of Naver Z, the operator of the metaverse platform Zepeto, has launched a full-day strike in protest against a proposed wage freeze. Approximately 120 union members, representing about 70% of the workforce, participated in the walkout on September 23.

The union is demanding a 5.3% wage increase, consistent with the raises granted to Naver headquarters and Snow. However, Naver Z management maintains that a wage freeze is necessary due to the company’s recent financial difficulties, noting an operating loss of approximately 49.4 billion won last year.

Union leaders have criticized CEO Kim Chang-wook for failing to provide a clear explanation regarding the company’s management crisis and for shifting the burden of financial losses onto employees. The union has announced plans to escalate its actions, including a potential five-day consecutive strike starting next month, and intends to send formal inquiries to both CEO Kim and Naver Chairman Lee Hae-jin following the Chuseok holiday.