HD Hyundai Workers Vote on Wage Deal
The tentative wage and collective bargaining agreement for this year, prepared by labor and management at HD Hyundai Heavy Industries after a 120-day tug-of-war, has been placed on the union members' final judgment.The Hyundai Heavy Industries Branch of the Korean Metal Workers' Union is holding a r
The HD Hyundai Heavy Industries labor union and management have reached a tentative wage and collective bargaining agreement after 22 rounds of negotiations, including seven partial strikes by the union. The agreement, set for a vote by approximately 8,000 union members, includes a 120,000 won ($92) monthly basic pay increase, an 11 million won ($8,462) lump sum payment, and a 200% payment.
If passed, the average member's income will rise by 10.61 million won ($8,162) compared to last year's negotiations. The vote, starting at 7 a.m. on Oct. 2, is expected to be announced that evening, with a majority needed for the agreement to be finalized. If rejected, further negotiations may be required, potentially leading to a full-scale strike.
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