GM Korea workers OK 2017 wage deal
SEOUL, Jan. 9 (Yonhap) -- Unionized workers at GM Korea Co. on Tuesday accepted wage terms offered by the company, sealing long-drawn wage negotiations.
In a vote held Tuesday, 69.2 percent of 12,340 union members who cast ballots supported the tentative agreement signed by the company and the union last month, GM Korea said in a statement.
"The company has experienced significant challenges in 2017, which will continue in 2018," GM Korea President and Chief Executive Kaher Kazem said. "We are focused on turning our Korean business around, and it is our hope to develop a profitable and sustainable future for GM Korea."
Under the agreed terms, GM Korea workers will receive an increase of 50,000 won (US$47) in basic monthly salary, a lump-sum payment of 6 million won ($5,600) on Feb. 14 and a 4.5 million won performance bonus on April 6, the statement said.
The company and its labor union agreed to commence wage negotiations for the year 2018 immediately to avoid any production losses and to seek profitability, it said.
For the whole of 2017, the South Korean unit of Detroit-based General Motors Co. saw its combined sales slump 12 percent on-year to 524,547 vehicles from 597,165.
kyongae.choi@yna.co.kr
(END)
-
BTS' J-Hope closes Chicago's Lollapalooza festival
-
(2nd LD) Kim, Pelosi agree to support efforts for denuclearization of N. Korea
-
(LEAD) Assembly speaker meets with Pelosi amid heightened Sino-U.S. tensions
-
Assembly Speaker Kim to meet with U.S. House Speaker Pelosi this week
-
(LEAD) Yoon's approval rating falls to 28.9 pct
-
Court recognizes death after drinking with boss as workplace accident
-
150 front-line Army commandoes to conduct joint training at U.S. Army's National Training Center
-
Whereabouts of 55 Thai tourists on Jeju unknown
-
Deputy national security adviser resigns due to health reasons
-
(2nd LD) S. Korea's new COVID-19 cases above 100,000 for 6th day