GM Korea Union Reaches Tentative Wage Deal After Strikes
Quick Look
- GM Korea's management and union reached a tentative wage agreement after 17 rounds of talks and recent strikes.
- The deal includes a 92,000 won monthly base wage hike, a 15 million won bonus package, and a commitment to assign new vehicle models to South Korean plants by Q3 next year.
- Union members will vote on the agreement.
AI-generated summary
Why It Matters
GM Korea's management and union engaged in 17 rounds of wage negotiations, leading to a deadlock and recent partial strikes by unionized workers.
SEOUL, July 22 (Yonhap) -- The management and union of GM Korea Co., the South Korean unit of General Motors Co., on Wednesday reached a tentative agreement on this year's wage negotiations after 17 rounds of talks, the union said.
The agreement includes a 92,000 won (US$62.16) monthly base wage hike and a comprehensive bonus package totaling 15 million won per worker.
The agreement also reportedly includes GM Korea's commitment to working toward finalizing a plan to assign new vehicle models to its South Korean plants by the third quarter of next year.
The tentative agreement will be put to a two-day vote by union members starting Monday.
Unionized workers staged a four-hour walkout across all shifts Tuesday, following a two-day partial strike last week, as wage negotiations remained deadlocked.
What to Watch
AI outlook — possibilities, not facts
Union members will vote on the tentative agreement.
Very likely · Within days
Open Questions
- Will union members approve the tentative agreement?
- What specific new vehicle models will be assigned?
- What is the exact timeline for new model finalization?
