Hyundai Motor labor and management reach wage deal, including 400% bonus and 12.7 million won
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- Hyundai Motor labor and management reached this year’s wage agreement 117 days after their first negotiating meeting.
- Workers approved the tentative deal with 61.55% of participating votes.
- The package includes a basic wage increase, a performance bonus, shares, welfare points, vacation allowance and plans to hire 500 technical workers in 2027 and 2028.
Hyundai Motor workers approved a tentative wage agreement that includes a performance bonus worth 400% of base pay plus 12.7 million won, along with other benefits.
The agreement passed in a union vote held at Hyundai’s plants in Ulsan, Jeonju and Asan and at the Namyang research center. Of 39,638 eligible members, 31,166 voted. The proposal received 19,183 votes, giving it 61.55% support among participants.
The package provides a 100,000-won basic wage increase, including the regular seniority increase, 15 company shares, 500,000 won in welfare points and a 200,000-won increase in summer vacation pay. It also includes new hiring commitments: 200 technical workers in the second half of 2027 and 300 in 2028.
About this summary
Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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