(LEAD) Hyundai Motor, labor union tentatively reach wage deal
SEOUL, Aug. 25 (Yonhap) -- The management and labor union of Hyundai Motor Co. t...
Hyundai Motor and its labor union have tentatively agreed on a wage deal after 17 rounds of negotiations, ending a series of strikes that disrupted production. The union, which represents 400,000 members, accepted a 100,000 won monthly pay raise, a performance bonus exceeding 400% of their salary, and an additional payment of 12.5 million won.
The retirement age may also be extended from 60 to 65 if relevant laws are revised. If approved, the deal will conclude Hyundai's wage negotiations, which have seen 60 hours of strikes this year, causing about 120 hours of production losses across two shifts. The strikes, including a full-day walkout for the first time in 10 years, have cost the company around 55,200 vehicles and 2.3 trillion won in lost sales.
Both sides emphasized the importance of adopting advanced technologies, such as artificial intelligence and robotics, for Hyundai's future competitiveness. Hyundai also plans to deploy humanoid robots at its U.S. plant in Georgia starting in 2028, with potential expansion across other facilities.
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