SEOUL, June 27 (Reuters) - South Korea's largest automaker, Hyundai Motor Co and its union have agreed a wage rise after a majority of union members voted in favour of a revised pay plan from the company, the union said on Thursday.
"More than 60 percent of the voters supported the revised plan offered by management," the union said on its website.
The agreement included a rise of 95,000 won ($78.90) in basic monthly salaries and a performance bonus of two months' wages. Workers will also receive a performance bonus of 1.5 months wages each, unpaid in 1997, and another 1.5 million won each in a one-time bonus, the union said.
Company management and union leaders said last week they had reached preliminary agreement, averting a planned full strike by Hyundai's 38,000 unionised workers, but the workers resurrected the prospect of a walk-out by voting down the proposal on Monday.
They have been taking sporadic industrial action since wage talks began last October, asking for a bigger slice of the pie, as Hyundai forecast sales to hit a record 1.72 million units for the year against 1.51 million in 2000.
Partial stoppages have delayed production and delivery of about 27,300 vehicles worth 350 billion won ($289.5 million) as of last week.
Hyundai Motor shares finished down 1.1 percent at 34,500 won, underperforming the broader stock index's 1.22 percent advance.