Ulsan: HD Hyundai Heavy Industries Co., a major shipbuilder, and its labor union have reached a tentative wage deal following multiple partial strikes, according to the company Wednesday. The agreement marks a significant development in the ongoing negotiations between the shipbuilding giant and its workforce.According to Yonhap News Agency, the two sides reached an agreement during the 30th round of wage and collective bargaining negotiations held at the company's headquarters in Ulsan on the southeastern coast. This agreement includes a 129,000 won (US$92) increase in monthly basic pay, along with additional bonuses, which are expected to address some of the workers' demands for better wages and working conditions.The deal is now subject to a vote by union members, scheduled for Friday. This vote will determine whether the tentative agreement will be officially accepted and implemented. Unionized workers of HD Hyundai Heavy have been actively participating in 24 rounds of partial strikes since August 28 , highlighting their demands for improved wages and working conditions. The outcome of the vote will be closely watched as it could set a precedent for future negotiations within the industry.
- October 12, 2026
