Ssangyong Motor first carmaker to conclude wage bargaining

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Ssangyong Motor first carmaker to conclude wage bargaining

Ssangyong Motor, the sport utility vehicle maker owned by India’s Mahindra Group, became the first Korean automaker to finalize this year’s wage bargaining.

The automaker, which started negotiations in May, reached a tentative agreement with its union on Wednesday night after offering to count regular bonuses as part of ordinary wages. It also agreed to apply the change retroactively from April.

This tentative agreement was approved yesterday by 52 percent of voting union members.

The agreement increases basic pay by 30,000 won ($29) per month and awards a one-time bonus of 2 million won per worker.

With yesterday’s agreement, Ssangyong managed to finish the wage bargaining without a strike for the fifth consecutive year.

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