{"id":130843,"date":"2026-08-25T02:35:09","date_gmt":"2026-08-25T02:35:09","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/130843\/"},"modified":"2026-08-25T02:35:09","modified_gmt":"2026-08-25T02:35:09","slug":"hyundai-reaches-tentative-deal-with-workers-after-strikes","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/130843\/","title":{"rendered":"Hyundai reaches tentative deal with workers after strikes"},"content":{"rendered":"

\"\"<\/a> Members of the Korean Metal Workers’ Union shouts slogans during a joint strike rally in front of the Hyundai Motor headquarters in Seoul on August 21, 2026. (Jung Yeon-je) <\/p>\n

South Korean automaker Hyundai Motor and the union representing its workers have reached a tentative deal on wages and bonuses, both sides said on Tuesday after a rare full-day strike. <\/p>\n

Around 40,000 employees at the country’s largest carmaker walked off the job on Friday, according to union figures, in the first such action for a decade. <\/p>\n

The union said on Monday that it had returned to talks with the company and had postponed shorter strikes planned for early this week. <\/p>\n

Hyundai said on Tuesday that the two sides had struck a “tentative agreement”, while the union indicated that the firm had agreed to partly meet its demands. <\/p>\n

“We agreed to increase the basic monthly salary by 100,000 won ($72) and pay a bonus equivalent to four months’ salary,” the union told AFP in a statement. <\/p>\n

The company would also meet another demand to raise the retirement age once the government passes legislation on a nationwide hike from 60 years to 65. <\/p>\n

Hyundai will not apply the wage peak system, which gradually reduces the salaries of older workers in their final years, after the retirement age is extended, the union said. <\/p>\n

Union members will vote on the proposals on August 31. <\/p>\n

“We acknowledge the commitment of our employees and appreciate the efforts of our negotiating teams in reaching this tentative agreement,” a Hyundai spokesman told AFP. <\/p>\n

The company’s workers have staged a total of 60 hours of strikes this year, causing estimated losses of around $1.6 billion, according to calculations by local news agency Newsis. <\/p>\n

Hyundai posted record second-quarter revenue of 49.2 trillion won, although operating profit fell 20.8 percent year-on-year amid weaker sales. <\/p>\n

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