Hyundai Motor workers agree wage deal ending costly strikes
AFPSEOUL--Hyundai Motor workers have agreed a wage deal, ending a series of strikes that have cost South Korea's biggest automaker one trillion won (US$910 million) in lost production.
September 11, 2013, 12:11 am TWN
A majority of Hyundai Motor's 46,000 unionized workers opted to accept the deal in a vote late Monday.
It includes a pay rise of roughly 5 percent, a one-off bonus of 5 million won plus three-and-a-half months of salary per worker, performance-based bonuses and medical and social benefits.
Hyundai workers began partial strike action on Aug. 20, halting factory operations for between four and eight hours over 10 days, and holding back production of more than 50,000 vehicles worth 1.02 trillion won.
“It is fortunate that we concluded a deal without any more disruption,” union spokesman Kwon Oh-il told the Yonhap news agency.