Hyundai Motor and its labour union have agreed on a new wage deal, the company has reportedly said.

Speaking to Associated Press, Hyundai Motor spokesman Jake Jang had no details on the deal other than that one had been reached.

The most recent negotiations between management and the union were held Monday and Tuesday in the southeastern industrial and port city of Ulsan, where the company has its main factory.

Jang said the deal is tentative and must still be voted on by the union rank-and-file.

AP noted that labour unrest at Hyundai, the world's sixth-largest automaker, is an annual event. The union has gone on strike every year but one since it was founded in 1987.

Workers have already walked off the job twice this year, the report added.