[THE INVESTOR] GM Korea’s union workers on Sept. 9 approved the tentative wage deal reached earlier by their union leaders and management that promised a pay increase, bonuses and other benefits, the Korean unit of General Motors said.
About 58.9 percent of 12,851 union members voted in favor of the wage deal, putting an end to months of negotiations and a series of partial strikes that halted the production.
GM Korea CEO James Kim
Under the new contract, worker’s monthly salary will rise by 80,000 won (US$72.56), along with a 4.5 million won bonus at the end of 2016 and an additional 6.5 million won in incentives paid immediately.
The approval comes after 30 rounds of negotiations between the labor union and the management that began on April 26.
GM Korea said the company can now strengthen its domestic sales. “We plan to focus on domestic sales of Chevrolet Spark, Malibu and Camaro SS after the Chuseok holiday,” GM Korea said in a statement.
By Ahn Sung-mi (sahn@heraldcorp.com)
