Hyundai Motor affiliate Kia said it had reached a tentative deal with unions on the latest round of wage and benefit increase negotiations.
The agreement followed some two months of bargaining and calls for a KRW97,000 (US$89) increase in monthly base salary and KRW8.5m in bonuses along with various other incentives. However, demands like extending the retirement age were omitted.
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Kia said it had lost around 23,271 vehicles through walk outs from production lines during the negotiations.
