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GM Reaches Tentative Wage Deal in Korea
General Motors Co. and its labor union in South Korea have reached a tentative agreement to hike wages and maintain production levels at GM's factory in Bupyeong, Reuters reports.
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General Motors Co. and its labor union in South Korea have reached a tentative agreement to hike wages and maintain production levels at GM's factory in Bupyeong, Reuters reports.
The one-year pact boosts base pay 83,000 won ($71) and awards each worker a bonus of 4 million won ($3,400) and an additional one-time payment of 6.5 million won ($5,600).
GM also agreed to continue operating two production lines at Bupyeong, according to the union. The decision ended fears that the company might integrate the two lines, thereby reducing the factory's workforce.
Reuters says workers will decide on Tuesday when to vote on the agreement.
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