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Hyundai workers vote to accept wage freeze amid pandemic

All News 08:57 September 26, 2020

SEOUL, Sept. 26 (Yonhap) -- Unionized workers at Hyundai Motor Co. voted to accept a wage freeze for the first time in 11 years as the nation's largest carmaker struggles to cope with the impact of the coronavirus pandemic, the company said Saturday.

In a vote held Friday, 53 percent of 44,460 workers who cast a ballot approved this year's wage agreement between the labor union and management, the company said in a text message.

Hyundai Motor and its union reached a wage deal without a strike for the second consecutive year. They will sign the wage deal Monday, the company said in a statement.

The 49,598-member union accepted the company's proposal that included a freeze on basic pay, a one-off bonus amounting to 150 percent of monthly salary, 1.2 million won (US$1,029) in special COVID-19 allowance, 10 company shares and 200,000 won in gift certificates.

It is the third time the company and the union agreed on a wage freeze, after the 1998 Asian foreign exchange crisis and the 2009 global financial crisis.

This undated photo provided by Hyundai Motor Co. shows the company's officials and union representatives during wage negotiations for the year at the carmaker's plant in Ulsan, 415 kilometers southeast of Seoul. (PHOTO NOT FOR SALE) (Yonhap)


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