Home > Business > Industry

Hyundai management, union reach tentative wage agreement

Published: 09 Sep. 2025, 20:41 Updated: 10 Sep. 2025, 19:26

The Hyundai Motor headquarters in southern Seoul [NEWS1]

Hyundai Motor and its labor union on Tuesday reached a tentative agreement in this year’s wage negotiations, centered on a 100,000 won ($72) increase in monthly base pay.

The agreement was reached during the 21st round of talks held at the company’s Ulsan plant, according to the two parties.

In addition to the base pay increase, the deal includes a bonus worth 450 percent of the monthly base salary plus 15.8 million won, 30 company shares and 200,000 won in traditional market gift certificates. The two sides also agreed to expand the scope of wages to cover certain allowances.

The tentative agreement will be finalized if approved in a vote by all union members scheduled for Monday.

The deal comes 83 days after the two sides began negotiations with an opening meeting on June 18.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY JUNG SI-NAE [[email protected]]