Management at South Korea's GM Daewoo Auto & Technology Co. is breathing a sigh of relief after reaching a new tentative agreement with its labor union on Aug. 23. The new contract includes a 5.2% wage hike, marginally higher than the 5.1% increase won by workers at rival Hyundai Motor Co. Ltd. on July 26. It also includes a substantial 3 million won ($3,139) one-time bonus per employee and sweetens the previous labor agreement negotiated with the union on July 27, which was narrowly ...
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