Hyundai Heavy Industries, 2nd Tentative Agreement on Labor Negotiations Passed with 62.48% Approval...

[Asia Economy Reporter Oh Ju-yeon] The labor and management of Hyundai Heavy Industries have approved the second tentative agreement for the 2021 wage negotiations.

On the 12th, Hyundai Heavy Industries announced that the union members' vote on whether to accept the second tentative agreement for the 2021 wage negotiations was approved with 62.48% of the votes cast in favor.

This tentative agreement adds to the contents of the first tentative agreement by including a minimum basic wage increase of 5,000 KRW to adjust wage gaps by years of service, and an increase of up to 30,000 KRW in the job environment allowance. The first tentative agreement included a basic wage increase of 73,000 KRW (including 23,000 KRW for seniority), a performance bonus of 148%, an encouragement bonus of 2.5 million KRW, and welfare points of 300,000 KRW.

The voter turnout on the day was 91.83%, and the vote count was 62.48% (3,840 people) in favor, 37.13% (2,282 people) against, and 0.34% (21 people) invalid.

However, the union member votes for Hyundai Electric and Hyundai Construction Equipment, which were conducted simultaneously, were rejected with 53.44% and 53.08% opposing, respectively. Accordingly, the two companies must renegotiate, and Hyundai Heavy Industries must wait until these companies complete their negotiations for the approved tentative agreement to take effect.

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