Hyundai Union and Management Reach Wage Deal
Hyundai Motor's union reached a tentative wage agreement with management, averting further production halts at its major Ulsan plant. The deal includes a base salary increase and hiring commitments.
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HYUNDAI MOTOR CO's union in South Korea agreed to a tentative wage deal on Tuesday, securing a 100,000 won ($72.31) monthly base salary increase. The breakthrough follows the automaker's first full strike in a decade over job security and automation risks. Management and union leaders averted a suspension of production at the company's main manufacturing plant in Ulsan.
