[THE INVESTOR] Renault Samsung Motors on Oct. 13 said it has reached a final agreement with the automaker’s union that promised a pay increase, bonuses and other incentives.

About 57.3 percent of 2,341 union members voted in favor of the tentative wage deal reached earlier by the union leaders and the management. The agreement came after the deal was voted down twice in September after rounds of negotiations that began in July. It also marks the second consecutive year of strikeless wage deal, the South Korean unit of the French automaker Renault said.

Under the new contract, the workers’ monthly salary will rise by 31,200 won (US$27.58), along with a lump sum payment of 8 million won as incentives, which includes 3 million won to mark the successful launch of a new car. 



“Through this wage deal, we have established a trust between the company and the workers, enabling production without further delay on the back of increasing exports,” the company said in a statement.

The automaker said it plans to continue manufacturing more cars, including popular models SM6 sedan and QM6 SUV, to ride on the cars’ success.

By Ahn Sung-mi (sahn@heraldcorp.com)