Hyundai Steel Tentative Agreement on Labor-Management Negotiations Passed... Ending 7 Months of Labor Conflict
All Five Branches Approve the Tentative Agreement
Hyundai Steel's labor and management have finalized the 2024 wage and collective bargaining agreement. It took about seven months since the first negotiation began in September last year.
According to the steel industry on the 15th, the tentative agreement on wages and collective bargaining, which was put to a union member approval vote until the day before by five Hyundai Steel union branches (Incheon, Dangjin, Suncheon, Pohang, and Hysco), was approved with a majority vote in all branches.
Earlier, on the 9th, the Hyundai Steel union had tentatively agreed on a collective bargaining agreement that included a wage increase of 101,000 won and a performance bonus payment of '450% of the base salary + 10.5 million won.'
With the tentative agreement approved in the union member vote, Hyundai Steel has completed all negotiations for the 2024 wage and collective bargaining that started in September last year.
Hot Picks Today
At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- "If Both Spouses Work There, How Much Would They Make?" "They Earn More Than Me, and I'm a Doctor"... Envy Erupts Over Samsung Electronics' Bonus
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- Park Minshik Shaves Head: "I Will End Han Donghoon's Predatory and Parasitic Politics"... Ongoing Calls for Conservative Consolidation in Busan Buk-gu Gap within PPP
Over the past seven months, Hyundai Steel's labor and management had conflicts, repeatedly going through strikes, workplace lockouts, strike withdrawals, and resumptions due to disagreements over issues such as performance bonuses.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
