[Yonhap News Photo]
Unionized workers at South Korea's leading carmaker Hyundai Motor have reached a provisional wage agreement with their management following a series of intermittent partial strikes.
The agreement reached on late Wednesday requires a vote by union members on Friday. Union leaders agreed on a base monthly pay increase of 72,000 won (64 US dollars), 350 percent of their base monthly payment plus a cash payment of 3.3 million won, and other benefits such as shares and gift vouchers.
Hyundai's strike began on July 19. The first wage agreement on August 24 was rejected in a vote by unionists.
Hyundai's union is notorious for its militant activity. For decades, strikes have been an annual event, prompting the company to increase production overseas. Last year the company posted an operating profit of some 6.37 trillion won, down 15.8 percent from a year ago. Strikes this year came as Hyundai Motor was struggling with multiple problems at home and abroad.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
