Kia Labor and Management Reach Tentative No-Strike Agreement for the First Time in 10 Years (Update)

Kia Autoland Gwangmyeong
[Image source=Yonhap News]

[Asia Economy Reporter Changhwan Lee] Kia labor and management have reached a tentative wage agreement this year without a strike for the first time in 10 years.

On the 24th, Kia labor and management succeeded in preparing a tentative wage agreement at the 13th main negotiation session held that day.

The tentative agreement includes a base salary increase of 75,000 KRW (including regular seniority raise), a performance bonus of 200% + 3.5 million KRW, a special incentive of 2.3 million KRW, traditional market gift certificates worth 100,000 KRW, and 13 shares of stock.

Among the performance bonuses, 100% + 3.5 million KRW and the special incentive will be paid immediately upon agreement, and the remaining 100% will be paid at the end of this year.

The Kia labor union plans to conduct a member vote on the tentative agreement on the 27th. If the majority approves, the tentative agreement will be finally ratified.

This content was produced with the assistance of AI translation services.