Hyundai union approves tentative wage deal with 400% bonus and 15 shares
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- Hyundai Motor union members approved a tentative wage agreement with 61.55% of votes cast supporting it.
- The deal includes a 100,000-won monthly base-pay increase, a bonus worth 400% plus 12.7 million won, 15 company shares and 500,000 won in Hash Points.
- The company and union also agreed to hire 200 technical workers in 2027 and 300 in 2028.
Hyundai Motor workers have approved a tentative wage agreement that combines higher pay with company shares and additional benefits.
Of 39,638 union members, 31,166 took part in the vote. Support totaled 19,183 votes, or 61.55% of ballots cast, while 11,914 members opposed the agreement. The turnout was 78.63%.
The agreement, reached during the 16th wage negotiation at Hyundai's Ulsan plant, provides a 100,000-won increase in base pay. It also includes a performance payment worth 400% plus 12.7 million won, 15 shares and 500,000 won in Hash Points.
The two sides also linked the deal to future production capacity. Hyundai and its union agreed to recruit 200 technical workers in 2027 and another 300 in 2028, focusing on key positions.
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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