General Motors’ South Korean unit has tentatively reached an annual wage deal with its union, averting a major strike.
Workers resumed production on Monday (11 July) after staging a partial strike last week and a complete work stoppage over the weekend, leading to the loss of around 9,700 vehicles in production terms.
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GM Korea produces 25% of all Chevrolets sold globally and 98% of the Cruze and Aveo models sold in Europe. It exports over 80% of its vehicles.
Management and the labour union said they had agreed on the tentative deal, which includes a basic salary hike of KRW78,828 (US$74.60), a bonus of KRW4m (US$3,750) and a one-off payment of KRW2.5m (US$2,350).
Works will vote on the offer on Wednesday and Thursday.
GM Korea is aggressively boosting sales in Korea this year after changing its brand from GM Daewoo to Chevrolet in March and launching a range of new models.
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