Hyundai Motor's South Korean union approves wage deal

On September 1, the South Korean labor union representing Hyundai Motor's employees approved a tentative wage agreement with the automaker, ending this year's pay negotiations after weeks of strikes and talks. According to Hyundai Motor, 61.55% of participating union members voted in favor of the agreement. Both parties acknowledged that advanced technologies like AI and robotics are crucial for the future of mobility.

The deal comprises a 4.1% base salary increase, a performance bonus equal to 400% of the base pay, and additional cash and bonus payouts. Furthermore, the union and Hyundai agreed to hold further discussions on employment-related issues regarding new business ventures.