Korea Hyundai Motor union accepts wage deal

Unionised workers at South Korea’s Hyundai Motor voted to accept a wage deal, the company and its labour union said on Thursday, which will make 2009 Hyundai’s first strike-free year in 15 years.

Under the wage plan, on which Hyundai and its union leaders agreed earlier this week, basic salaries will remain frozen while cash and company shares will be paid as incentives.

The union said in a statement posted on its Web site that 62 percent of union members voting had supported the wage deal while 37 percent had voted against it. About 94 percent of Hyundai’s over 45,000-strong union participated in the vote.

In past years, union members have staged strikes over wage negotiations and political issues such as a free trade deal, slowing production and sales.

http://malaysia.news.yahoo.com/rtrs/20091224/tbs-hyundai-union-7318940.html

 

Category: Korea