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SsangYong Motor approves wage deal with union

All News 16:12 August 10, 2018

SEOUL, Aug. 10 (Yonhap) -- SsangYong Motor Co., the local unit of Indian sports utility vehicle maker Mahindra & Mahindra Ltd., said Friday it has reached a wage deal with its union, marking the ninth consecutive year that the carmaker has concluded a wage deal without a strike.

Half of 3,265 SsangYong workers voted in favor of the deal, which calls for a freeze in basic monthly wages and a bonus worth 1 million won (US$890).

The maker of the Tivoli and G4 Rexton sport-utility vehicles sold a total of 143,685 vehicles in 2017, down a sharp 16 percent from 155,844 units the previous year.

Mahindra & Mahindra owns a 72.85 stake in SsangYong Motor.

This photo provided by SsangYong Motor Co. shows its Tivoli Armour Gear Edition. (Yonhap)


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