SOUTH KOREA: Kia settlement includes 8.8% wage rise, five-day week
Kia Motors Corporation's provisional agreement with the company's labour union includes an 8.8% wage increase and the introduction of a 40-hour working week, to take effect from September 1. Management also agreed to a revised performance-based bonus schedule and to improved wage conditions for temporary employees while the union has undertaken to increase productivity to ensure that production targets continue to be met. The union has dropped its demands for inclusion in the management decision-making process, in exchange for assurances that employee stability would be a top priority in any future Kia investment plans.
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