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Kia Reaches Tentative Deal with Union
Kia Motors Corp. says it has reached a tentative labor accord after more than four months of negotiations with its union, The Korea Herald reports.
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Kia Motors Corp. says it has reached a tentative labor accord after more than four months of negotiations with its union, The Korea Herald reports.
The company estimates partial strikes by the union over that period have cost it 2.1 trillion won ($1.8 billion) in lost production. The newspaper says the one-year wage deal would hike base monthly pay by 72,000 won ($63), expand benefits and grant each worker a one-time bonus of 3.3 million won ($2,900).
Kia’s owner Hyundai Motor Co. reached a one-deal pact with its union after enduring its first full-scale strikes in 12 years.
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