Hyundai Motor, Provisional Agreement on This Year's Wage Negotiations Reached... Four Consecutive Years of No Disputes
Basic Salary Increased by 98,000 Won
The labor and management of Hyundai Motor Company have reached a tentative agreement on this year's wage negotiations. The agreement includes a base salary increase of 98,000 won.
On the 12th, Hyundai Motor's labor and management reached the tentative agreement during the 16th negotiation session held at the Ulsan plant.
This tentative agreement includes wage increases, payment of performance bonuses and incentives, establishment of a domestic factory dedicated to electric vehicle production, and new hires for production and technical positions.
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This tentative agreement was reached without any strikes. It marks the fourth consecutive year of dispute-free agreements since 2019. If this tentative agreement passes the overall union member vote, this year's Hyundai Motor wage negotiations will be concluded.
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