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Hyundai Motor reaches tentative wage agreement with union
Hyundai Motor and its labor union have reached a tentative agreement on 2026 wage and collective bargaining terms, ending 111 days of negotiations and recent strikes that included a major 24-hour full-scale walkout. The deal includes a 100,000 won increase in the basic monthly salary, a performance bonus equivalent to 400% of salary plus 12.7 million won, 15 shares of stock, and 500,000 won in welfare points.
To address future industry shifts, the parties agreed to cooperate on the introduction of advanced technologies such as physical AI and robotics. The agreement also includes a plan to hire 500 new technical workers between 2027 and 2028. Regarding retirement, the union and management agreed to implement an extension of the retirement age from 60 to 65 once relevant legislation is passed, without expanding the wage peak system.
Additionally, the company agreed to withdraw 10 instances of damage claims and provisional attachments filed against the union. The tentative agreement is scheduled for a union membership vote on August 31.
Entities
Choi Young-il · Hyundai Motor · Hyundai Motor Company · Hyundai Motor Labor Union · Hyundai Motor union · Kia · Korean Metal Workers' Union · Lee Jong-cheol · Lee Jong-chul · SK Hynix · Ulsan · Ulsan Plant
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] The agreement includes a 100,000 KRW increase in base pay. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr
- [● 11 SOURCES] Performance bonuses will consist of 400% of base pay plus 12.7 million KRW. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr
- [● 11 SOURCES] Management and labor agreed to cooperate on the introduction of physical AI and intelligent robotics. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr
- [● 5 SOURCES] The final agreement is subject to a vote by union members. www.autoherald.co.kr · www.techholic.co.kr
- [● 11 SOURCES] The agreement includes the distribution of 15 shares of company stock. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr
- [● 26 SOURCES] Hyundai Motor management and the labor union reached a tentative agreement on the 2026 wage and collective bargaining terms. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr · +14 more
- [● 14 SOURCES] The parties agreed to cancel 10 instances of damage claims and provisional attachments. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr · +2 more
- [DISPUTED] The company will hire a total of 500 technical workers between 2027 and 2028. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.techholic.co.kr · +10 more
- [● 13 SOURCES] The agreement includes a 200,000 KRW increase in summer vacation expenses. www.autoherald.co.kr · www.kyeonggi.com · www.ulsanpress.net · www.hani.co.kr · www.sisajournal.com · +2 more
- [● 4 SOURCES] Strikes this year have caused an estimated $1.6 billion in losses. www.newsbytesapp.com · www.newindianexpress.com · www.ithome.com · avto-magazin.metropolitan.si
- [● 29 SOURCES] Hyundai Motor and its labor union have reached a tentative wage agreement. www.newsbytesapp.com · www.socialnews.xyz · www.newindianexpress.com · www.autoherald.co.kr · www.hidomin.com · +16 more
- [● 28 SOURCES] The agreement includes a 100,000 won increase to the basic monthly salary. www.newsbytesapp.com · www.socialnews.xyz · www.newindianexpress.com · www.autoherald.co.kr · www.hidomin.com · +16 more