Korea GM Officially Concludes This Year's Wage Negotiations... Signs Agreement

Kaher Kazem, President of GM Korea (left), and Kim Seong-gap, Head of the Metalworkers' Union GM Korea Branch, signed the 2021 wage negotiation agreement on the 27th and took a commemorative photo.

Photo by GM Korea

[Asia Economy Reporter Ki-min Lee] On the 27th, the labor and management of Korea GM held a signing ceremony for the 2021 wage negotiation agreement, officially concluding this year's wage negotiations.

The signing ceremony held at Korea GM's Bupyeong headquarters was attended by labor and management negotiation representatives including Kaher Kazem, President of Korea GM, Kim Ho-gyu, Chairman of the Metal Workers' Union, and Kim Seong-gap, Head of the Metal Workers' Union Korea GM Branch, who signed the 2021 wage negotiation agreement jointly reached by labor and management.

The Korea GM labor and management began with a meet-and-greet on May 27 and, after a total of 15 negotiation sessions, prepared a tentative agreement on the 19th of this month that included a 30,000 KRW increase in the monthly base salary, a one-time payment of 4.5 million KRW, maintenance coupons worth 300,000 KRW for company brand vehicles, and traditional market gift certificates worth 200,000 KRW. The tentative agreement was approved with a 65.7% majority in the union members' vote held on the 23rd and 24th.

Earlier, on the 22nd of last month, Korea GM had prepared a first tentative agreement, but it was rejected as 51.15% of union members voted against it in the referendum, leading to additional negotiations and the preparation of a second tentative agreement.

A Korea GM official stated, "We are pleased that the labor-management negotiations have concluded, and based on this positive momentum, we will continue the company's promised efforts to normalize management going forward."

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