Park Jin-hai primarily focuses on K-dramas, entertainment shows and actor interviews. Beyond that, she also pens articles covering the broader arts scene, with a particular emphasis on classical music, dance and various aspects of lifestyle. Since joining The Korea Times in 2013, she has made significant contributions in the realms of hallyu (Korean wave), industry news and international affairs.
GM Korea reaches agreement with labor in wage talks
GM Korea President and CEO Sergio Rocha, right, poses with student participants at the 2015 Korea Auto Science Camp at the company’s headquarters in Bupyeong, Incheon, Tuesday. The automobile company said it sponsors the camp which will be held at the Sangnok Resort in Cheonan, South Chungcheong Province, from Tuesday through July 31. / Courtesy of GM Korea
By Park Jin-hai
By Park Jin-hai
GM Korea announced Tuesday that it had reached a tentative agreement with its union in this year’s wage talks.
Following the lead of Renault Samsung Motors, which among domestic automakers concluded wage talks, Monday, GM Korea is also close to finalizing an agreement without the threat of a strike.
Industry watchers say that the management and unions of local automakers, struggling in the domestic and overseas markets, are trying to close talks early as the sense of crisis is shared by both sides.
The agreement included pay raise as well as future plans to raise local plants’ production quota.
Under the agreement, the company will raise the base payment by 83,000 won, while giving a 6.5 million won bonus when an agreement is signed. It will also provide a 4 million won performance-related bonus at the end of this year.
Management and the union came up with the agreement at the 21st negotiation session after the two opened dialogue for this year’s wages on April. 23.
Previously, the company suggested raising the base payment by 65,575 won, offering 4 million won bonus and a 4 million won performance related bonus.
However, the union rejected the offer.
GM Korea’s union members will vote to finalize the tentative agreement between Tuesday and Wednesday.
“We gave deep thoughts to the demands of the labor before we came up with the final offer, aiming to close this year’s wage talks peacefully and secure future competitiveness for sustainable corporate management,” said a GM official.
“As it is the best possible suggestion that we could give, without harming our competitiveness, we hope to finalize it soon so as to focus more on production and sales of new cars slated to be launched in the latter half of this year,” he added.
If GM Korea union members agree to the deal, it will be the second year in a row for the local unit of U.S. General Motors to have strike-free wage talks.