Hyundai Motor union approves deal, ends $1.74b strike
SEOUL (AP) - Hyundai Motor's labour union has voted to accept a deal for increased wages and the elimination of night-time shifts, ending one of the costliest strikes ever at South Korea's largest car maker.
The union said on Tuesday that 53 per cent of more than 41,000 unionised workers voted to approve the deal that the union leaders and the company hashed out last week.
The approval ends the first strike in four years at Hyundai, which resulted in US$1.4 billion (S$1.74 billion) of lost output according to the company's estimate.
The union staged walkouts that totaled 92 hours in July and August, pressuring the company to eliminate night-time shifts during annual negotiations on wages and working conditions.