Kia, labor union reach tentative wage deal
Oct 19, 2022
Seoul (South Korea), October 19: South Korean automaker Kia Corp. and its labor union reached a tentative wage deal Tuesday without a strike for a second consecutive year.
Kia's union said a majority of 65.7 percent of 26,490 voters nationwide OK'd the deal.
In the first round, the offer included an increase of 98,000 won (US$68.87) in monthly base pay, a bonus of 200 percent of monthly salary plus 4 million won, and a one-off special bonus of 100 percent of monthly salary.
The deal carried an additional discount plan for long-term employees of 25 years or longer of service when they purchase the carmaker's electric vehicles.
But the discount plan is subject to further discussion depending on the supply, number of waitlisted customers and the amount of other subsidies granted for the purchase.
Kia's union and the management will officially seal the agreement Wednesday in the company's plant in Gwangmyeong.
Source: Yonhap
