Kia, 2nd Tentative Agreement on Labor-Management Negotiations... "Reagreement After 44 Days"

[Asia Economy Reporter Yoo Hyun-seok] On the 13th, Kia labor and management announced that they reached a second tentative agreement on the 2022 wage collective bargaining at the 14th main negotiation held at Autoland Gwangmyeong.

This came 44 days after the first tentative agreement was reached. By reaching the second tentative agreement without any disputes between labor and management, they continued the no-strike atmosphere for the second consecutive year.

The main points of the first tentative agreement included a base salary increase of 98,000 KRW (including seniority increment), management performance bonus of 200% + 4 million KRW, production and sales target achievement incentive of 100%, special incentive of 1.5 million KRW for quality brand improvement, traditional market gift certificates worth 250,000 KRW to revitalize the local economy, securing funds for allowance increases, and provision of 49 free shares.

In addition, the ‘future change agreement’ included a commitment to jointly strive to transform the domestic factory (Autoland) into a core hub for future car new businesses such as Purpose Built Vehicles (PBV). They also agreed on adjusting the number of days for congratulatory and condolence leave and increasing condolence money within the collective agreement, expanding the scope and types of health checkups, and raising early childhood education expenses.

The second tentative agreement reached this time includes an additional increase of 300,000 KRW for vacation expenses. The vote for approval or disapproval of the second tentative agreement by union members is scheduled to take place next week.

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