Pursuits
Hyundai Motor Union Workers Approve 2015 Wage Pact to End Strike
- Hyundai’s South Korea workers approve annual wage pact
- Deal with union comes as Hyundai seeks to arrest falling sales
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Hyundai Motor Co.’s workers in South Korea approved a tentative wage agreement, ending strikes at the company’s largest manufacturing base as the automaker seeks to reverse seven consecutive quarters of profit decline.
Workers at Hyundai led by union head Park You Ki, who was elected into the position late November, approved a preliminary accord that includes raising monthly base salaries by 85,000 won ($73), according to union spokesman Jang Chang Yeal.