GM Korea, union conclude wage deal

GM Korea Co., the Korean unit of U.S. automaker General Motors Co., said Tuesday it has concluded a deal with its union to raise wages and reduce working hours.

The draft of a collective compromise was passed in a union vote by 7,946 members, or 60 percent of the eligible 13,247 voters, said the carmaker.

The agreement calls for a hike of 95,000 won (US$85) of its monthly-based wage with additional bonuses, and the implementation of a two-shift daytime work system.

The management and union of GM Korea reached the tentative deal on Wednesday last week after four month-long marathon negotiations.

The country's two major carmakers, Hyundai Motor Co. and Kia Motors Corp. have already concluded similar deals on wage increases and working hour reductions. (Yonhap)