Kumho Tire, Tentative Agreement Reached in Collective Bargaining

Kumho Tire labor and management have reached a tentative agreement on wage negotiations.

Kumho Tire announced on the 22nd that a '2023 wage negotiation tentative agreement' was reached during the 14th main negotiation session.

The tentative agreement consists of ▲wage increase (basic salary 2%) ▲payment of an incentive bonus (2.5 million KRW) to enhance productivity, quality competitiveness, and early achievement of business normalization ▲plans regarding the future vision of domestic factories and employment stability.

The final decision on this tentative agreement will be made through a union member briefing session and a vote for or against.

Although the specific schedule has not yet been set, to ensure the wage increase and incentive bonus are paid before Chuseok, union briefing sessions are expected on the 22nd and 23rd, followed by a union vote on the 24th and 25th.

Earlier, the Kumho Tire union held a strike authorization vote among all union members on the 8th and 9th, with 79.48% of members (2,805 out of 3,529) voting in favor, approving the strike.

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