{"id":131945,"date":"2026-08-25T22:10:06","date_gmt":"2026-08-25T22:10:06","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/131945\/"},"modified":"2026-08-25T22:10:06","modified_gmt":"2026-08-25T22:10:06","slug":"hyundai-reaches-tentative-deal-with-workers-after-strikes-5","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/131945\/","title":{"rendered":"Hyundai reaches tentative deal with workers after strikes"},"content":{"rendered":"

SEOUL
\n\"Hyundai <\/p>\n

(AA photo)<\/p>\n

South Korean automaker Hyundai Motor<\/a> and the union<\/a> representing its workers have reached a tentative deal on wages and bonuses, both sides said on Aug. 25 after a rare full-day strike<\/a>.<\/p>\n

Around 40,000 employees at the country’s largest carmaker walked off the job on Aug. 21, according to union figures, in the first such action for a decade.<\/p>\n

The union said on Aug. 24 that it had returned to talks with the company and had postponed shorter strikes planned for early this week.<\/p>\n

Hyundai<\/a> said on Aug. 25 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 Aug. 31.<\/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","protected":false},"excerpt":{"rendered":"SEOUL (AA photo) South Korean automaker Hyundai Motor and the union representing its workers have reached a tentative…\n","protected":false},"author":2,"featured_media":131946,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[295,294,702,293,808,11793],"class_list":["post-131945","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hyundai","tag-hyundai","tag-hyundai-group","tag-hyundai-motor","tag-hyundai-motor-group","tag-strike","tag-union"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/131945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=131945"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/131945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/131946"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=131945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=131945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=131945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}