ID :
203770
Sat, 08/27/2011 - 05:37
Auther :
Shortlink :
https://oananews.org//node/203770
The shortlink copeid
Unionized workers at Hyundai Motor approve wage deal
SEOUL, Aug. 27 (Yonhap) -- The labor union at Hyundai Motor Co. said Saturday that its members have agreed with the management on a wage deal for 2011, marking the third-straight year of ending wage negotiations without a strike.
The labor union at South Korea's largest carmaker said 54.2 percent out of its unionized workers approved a wage deal to raise base pay by 5.41 percent in a vote conducted on Friday.
Under the agreement, the carmaker agreed to give its workers an annual bonus equal to three months' wages plus an extra 7 million won (US$6,500) in special compensation. It will also provide 35 shares for each worker in return for not engaging in a walkout.
Regarding the application of the so-called time-off system that restricts wage payments to full-time unionists, the two sides agreed to recognize 111 workers as union representatives.
The time-off scheme has been one of the main issues of contention between management and labor. Currently, Hyundai Motor's labor union has 237 full-time unionists engaged in labor activities.
In the first seven months of this year, Hyundai Motor produced more than 1.07 million vehicles, about 40 percent of all automobiles produced in the country.
Union members at Kia Motors Corp., Hyundai Motor's affiliate and Korea's No. 2 automaker, agreed on Aug. 19 on a 5.17 percent hike in base pay, averting a labor strike for the second consecutive year.
The labor union at South Korea's largest carmaker said 54.2 percent out of its unionized workers approved a wage deal to raise base pay by 5.41 percent in a vote conducted on Friday.
Under the agreement, the carmaker agreed to give its workers an annual bonus equal to three months' wages plus an extra 7 million won (US$6,500) in special compensation. It will also provide 35 shares for each worker in return for not engaging in a walkout.
Regarding the application of the so-called time-off system that restricts wage payments to full-time unionists, the two sides agreed to recognize 111 workers as union representatives.
The time-off scheme has been one of the main issues of contention between management and labor. Currently, Hyundai Motor's labor union has 237 full-time unionists engaged in labor activities.
In the first seven months of this year, Hyundai Motor produced more than 1.07 million vehicles, about 40 percent of all automobiles produced in the country.
Union members at Kia Motors Corp., Hyundai Motor's affiliate and Korea's No. 2 automaker, agreed on Aug. 19 on a 5.17 percent hike in base pay, averting a labor strike for the second consecutive year.
