Hyundai Motors Reaches Tentative Agreement with Union After Strike, Including Pay Increase and New Hires

The Hyundai Motors branch of the Korean Metal Workers' Union (KMWU) reached a tentative agreement with the company following its first full-day strike in a decade. The proposed deal, which is subject to member approval, includes a 4.1% base-pay increase, bonuses equivalent to 400% of base pay, additional cash bonuses, and a commitment from Hyundai to hire 500 more technical workers.