Kia Motors workers and management have agreed a wage package and collective bargaining deal on Tuesday, the Financial Times (FT) said, adding that the deal ended a month-long strike that cost an estimated 450 billion won ($US388m). The FT said that resolution of the dispute would be a welcome respite for Kia's parent company Hyundai Motor, whose shares have fallen about 37% since early April.
Kia Motors workers and management have agreed a wage package and collective bargaining deal on Tuesday, the Financial Times (FT) said, adding that the deal ended a month-long strike that cost an estimated 450 billion won ($US388m).
The FT said that resolution of the dispute would be a welcome respite for Kia’s parent company Hyundai Motor, whose shares have fallen about 37% since early April.
Kia workers secured a 9.1 per cent wage increase in a deal similar to one granted to Hyundai workers last month, also after a strike, the FT said.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.
Excellence in Action Neonode has won the Innovation Award for Driver Monitoring Softwarefor its camera-based, MultiSensing®-powered solution that delivers precise hands-on-wheel detection, regulatory-ready safety performance and low-footprint integration. Discover how Neonode is redefining driver monitoring, UX and compliance for next-generation semi-autonomous vehicles.
