Following one of the lengthiest union-contract talks ever held at South Korea’s Hyundai Motor Co. Ltd., the union bargaining committee tentatively has accepted a 5.6% wage increase and a plan to reduce work shifts by three hours daily, a company spokesman tells Ward’s. The auto maker’s offer includes a 5.6% increase in monthly wages, amounting to 85,000 won ($75), an incentive bonus of 3-months’ pay and a one-time bonus of 3 million won ($2,643). Additionally, the present 10-hour day and ...
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