Hyundai Motor's South Korean union approves wage deal
FILE PHOTO: Members of the Korean Metal Workers' Union chant slogans and raise their fists during a rally outside Hyundai Motor Company headquarters as the automaker's union staged its first full strike in a decade, in Seoul, South Korea, August 21, 2026. REUTERS/Kim Soo-hyeon/File Photo
SEOUL, Sept 1 : Hyundai Motor's South Korean labour union approved a tentative wage agreement with the automaker, bringing an end to this year's pay negotiations after weeks of strikes and talks.
Some 61.55 per cent of participating union members voted in favour of the agreement, Hyundai Motor said on Tuesday.
"Both parties recognise that advanced technologies such as AI and robotics are essential to the future of mobility," Hyundai said in a statement.
The agreement included a base salary increase of 4.1 per cent plus a performance bonus equivalent to 400 per cent of base pay and additional payouts in cash and bonuses. The two sides also agreed to hold further discussions on matters related to employment when it comes to rolling out new businesses.
