Unionized workers at South Korea’s Kia Motors have voted for a tentative deal on their salary, bonus and other working conditions at the firm’s annual wage talks, company officials said on Tuesday.
On Monday, more than 60 percent of the unionized employees who cast their ballots voted in favor of a deal reached between the union leaders and Kia management last Wednesday.
The agreement outlined an 85,000 won ($70.5) increase in the workers’ base pay and a 400 percent bonus, along with other benefits.
Both sides also agreed to discuss the expansion of the controversial wage peak system at this year’s annual wage negotiations. The government is pushing South Korean firms — in both the public and private sectors — to adopt wage peak system, which is designed to allow senior employees to continue working on a gradually decreasing salary.
Meanwhile, Hyundai Motor recently wrapped up wage talks that lasted about half a year. Hyundai Motor and Kia Motors are operated by Hyundai Motor Group, the world’s fifth-largest automaker.