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Hyundai Motor and its South Korean union agree on 9% wage hike deal

The union, one of the biggest in South Korea with more than 46,000 members, said that a total of 62% of its voting members approved the tentative agreement reached last week, while 38% rejected it

Topics
Hyundai Motor | South Korea | Wages

Reuters  |  Seoul 



Hyundai
In May, Hyundai Motor Group, which includes Hyundai Motor and Kia Corp, said it would invest 63 trillion won ($48 billion) in South Korea through 2025.

Co and a union representing its workforce have sealed a wage deal that will boost annual pay by about 9% just days after the automaker committed to building its first new Korean car plant in nearly 30 years.

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First Published: Wed, July 20 2022. 23:15 IST

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