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GM Korea, Labor Union Reach Tentative Wage Hike Deal
- By The Financial District
- Jul 24, 2021
- 1 min read
GM Korea Co., the South Korean unit of General Motors Co., and its labor union reached a tentative wage deal late on Thursday, one day after its unionized workers went on partial strike for higher pay, Yonhap News Agency reported.
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.
