GM Korea, labor union reach tentative wage deal

SEOUL, July 22 (Yonhap) — GM Korea Co., the South Korean unit of General Motors Co., and its labor union reached a tentative wage deal on Thursday, one day after its unionized workers went on partial strike for higher pay.

The deal includes an increase of 30,000 won (US$26) in monthly base pay and a one-off bonus of 4.5 million won.

The wage agreement is subject to a vote by union members.

Unionized workers at GM Korea Co. launched a partial strike Wednesday to demand higher wages amid the protracted pandemic.

The union demanded a raise of 99,000 won in monthly base pay and a lump sum payment of over 10 million won in performance-related pay per person and a cash bonus.

South Korea’s largest carmaker Hyundai Motor Co. and its labor reached a tentative wage deal Tuesday, averting a strike for the third consecutive year.

The article from the source


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