After months of negotiations,Motor Co. Ltd. and its labor union sign a tentative labor agreement, marking the first time in 15 years a deal has been reached without a strike.
The tentative agreement freezes wages at their current level for one year.
The only other wage freeze took place in 1997-1998, when the nation was rocked by the Asian financial crisis.
Rank-and-file workers will vote on the pact atfacilities Dec. 23.
No details relative to signing bonuses, performance bonuses or other features have been released by Hyundai or the workers union.