Wage Agreement Settled
GM Korea’s union workers approved a tentative agreement on “2016 Wage and CBA Negotiations” reached on September 6 by their union leaders and the management.
About 58.9 percent, or 7,567, of 12,851 union members voted in favor of the wage deal this year.
The approval comes after 30 rounds of negotiations between the labor union and the management that began on April 26. The agreement includes a 80,000 won (US$72.33) basic monthly wage increase, a lump-sum payment of 6.5million won (US$5,877) to be paid upon ratification of the agreement and 4.5 million won (US$4,069) performance bonus to be paid at the end of the year. It also includes the company’s future development plans.
Having wrapped up an agreement before Chuseok holiday, GM Korea can now fully focus on strengthening domestic sales of its popular Chevrolet lineup, including Chevrolet Spark, Malibu and Camaro SS.