Kia and Union Reach Tentative Wage Deal
Kia Corp and its South Korean labor union have reached a tentative wage agreement that averts scheduled partial strikes. The deal includes a monthly base pay increase and performance incentives, pending a member vote.
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KIA CORP reached a tentative wage agreement with its labour union on Tuesday, averting partial strikes scheduled to begin Wednesday in South Korea. The deal includes a 100,000 won ($72.34) monthly base pay increase and a performance package worth 400% of monthly wages plus 12.7 million won. This marks the sixth consecutive year the automaker avoided a strike during wage negotiations.
