Kia Motors Corp.’s unionized workforce in South Korea approves a wage and performance bonus pact. The deal reportedly calls for workers to get an average monthly pay hike of 98,000 won ($83.61) and a 200% performance bonus. A union spokesman says some 95% of members voted and, of those, 70% accepted the tentative deal. Kia estimates the 3-week strike cost it 530 billion won ($452.2 million) in lost output.
Premium Content (PAID Subscription Required)
"Printer-friendly" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.