SEOUL (Reuters) - Hyundai Motor Co’s (KS:005380) South Korean labor union said on Friday its members have approved a tentative wage deal its leadership had negotiated with management, minimizing the risk of strikes and output losses.
The automaker and the South Korean union last week reached a tentative wage deal, marking the first time since 2010 they reached the agreement before summer holidays.
The union said in a statement that 63 percent of voters approved the deal whereas 37 percent rejected the terms.