Renault Korea seals wage deal with labor union

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Renault Korea seals wage deal with labor union

Published: 13 Oct. 2024, 18:21 Updated: 13 Oct. 2024, 18:33

This photo provided by Renault Korea shows the company's Grand Koleos SUV. [YONHAP]

The management and union of Renault Korea, the Korean unit of Renault S.A., on Friday sealed a wage deal after an extended labor strike over wages and working conditions.

Unionized workers of Renault Korea engaged in a full-scale strike since Sept. 13, demanding improved wages and working conditions.

According to the company, the labor union held a vote on whether to accept a tentative wage and collective bargaining agreement, with 50.5 percent of the members voting in favor.

The package includes an 80,000 won ($59) increase in base salary and a 3 million-won performance incentive for the successful launch of the company's mid-sized SUV Grand Koleos, among others.

Following the wage deal, Renault Korea said it is now able to focus more on the success of the Grand Koleos, which has been well-received in the market, as well as on advancement of future projects.

The Grand Koleos made an impressive sales debut by selling 3,900 units in its first month.

The model, which was first unveiled at the Busan International Mobility Show in May, accounted for most of the company's total sales of 4,980 units in September.

Yonhap