Economy · Planned · 5 sources combined
HD Hyundai Heavy labor deal
Base salary up 120,000 won
Deadline Deadline October 26 · Member vote scheduled
In short
HD Hyundai Heavy Industries and its union have reached a new wage agreement this year.
This comes 21 days after the first agreement was rejected in a member vote last month.
A final deal will be determined after a member vote on the 26th.
Key facts
| When | The agreement was reached at the 26th round of negotiations held at the Ulsan headquarters on the 23rd. |
|---|---|
| Who | HD Hyundai Heavy Industries and its union prepared a second provisional agreement on wages and collective contract this year. |
| What | They agreed on a base salary increase of 120,000 won, a one-time payment of 11.5 million won, and a 200% pay provision. |
| How | Compared to the first agreement, they added 500,000 won to the one-time payment and increased the seniority-based raise by 5,000 won. |
What it means for me
This case provides insight into wage negotiation trends in the shipbuilding industry.
