Hyundai Motor Company’s management and labor union have reached a tentative agreement on wages, shutting down a strike by workers scheduled for Wednesday.
During a 12th round of negotiations on Monday, representatives from both sides agreed to a basic salary hike of just over 80 U.S. dollars per month, the largest negotiated increase of its kind.
Plans for incentives, new recruitment, and the extension of the retirement age were also included in the tentative proposal.
If the proposal passes a vote by union members on Friday, there will be no further wage negotiations for this year.
That would make it six years in a row for Hyundai to reach a wage settlement with workers without any strikes.
Source : Arirang TV, https://www.arirang.com/news/view?id=273019
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