Hyundai Motor workers agree wage deal, ending strikes
SEOUL (AFP) - Hyundai Motor workers have agreed a wage deal, ending a series of strikes that have cost South Korea's biggest automaker one trillion won (S$1.15 billion) in lost production.
A majority of Hyundai Motor's 46,000 unionised workers opted to accept the deal in a vote late Monday.
It includes a pay rise of roughly five percent, a one-off bonus of five million won plus three-and-a-half months of salary per worker, performance-based bonuses and medical and social benefits.
Hyundai workers began partial strike action on Aug 20, halting factory operations for between four and eight hours over 10 days, and holding back production of more than 50,000 vehicles worth 1.02 trillion won.