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Renault Samsung, union signs wage deal for this year

All Headlines 16:00 October 12, 2017

SEOUL, Oct. 12 (Yonhap) -- Renault Samsung Motors Corp. and its union on Thursday sealed a wage deal for this year, after staging no strikes for the third year in a row.

In wage talks that began in May, Renault Samsung Motors offered to raise basic salaries by 62,400 won (US$56) a month and provide 150 percent of basic pay plus cash of 6 million won in bonuses per worker.

Last month, more than 50 percent of the carmaker's 2,500-member union voted to accept the wage terms.

In the January-September period, Renault Samsung sold a total of 204,668 vehicles, up 20 percent from 171,211 units a year earlier.

French automaker Renault S.A. owns an 80-percent stake in Renault Samsung.

In this photo taken on Oct. 12, 2017, Renault Samsung Motors President Park Dong-hoon (center with white hair) poses for a photo with company executives and union leaders in the carmaker's sole plant in the southern port city of Busan. (Yonhap)


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