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.