Seoul: The management and union of GM Korea Co., the South Korean unit of General Motors Co., have reached a tentative agreement on this year’s wage negotiations after 19 rounds of talks, the company announced.
According to Yonhap News Agency, the agreement includes a 95,000 won (US$69) monthly base wage hike and a comprehensive bonus package totaling 17.5 million won per worker. The two sides also agreed to introduce a new production incentive allowance for certain shifts and raise assembly-related allowances.
The tentative deal will be put to a two-day vote of union members starting Monday.