Korea GM Labor and Management Reach Tentative CBA Agreement: Base Pay Up 92,000 Won, 15 Million Won Bonus

New Vehicle Model Allocation Plan to Be Finalized by Q3 Next Year
Union Halts All Industrial Actions

Korea GM labor-management negotiating collective bargaining agreement. Photo by Yonhap News

Korea GM's labor and management have reached a tentative agreement after 17 rounds of this year's wage and collective bargaining agreement (CBA) negotiations.

According to the Korea GM chapter of the Korean Metal Workers' Union on July 22, the labor and management reached a tentative agreement at the 17th round of CBA talks held that day. The agreement centers on a monthly base pay increase of 92,000 won and the payment of a performance bonus of 15 million won.

Regarding the biggest issue, which was the allocation of a new vehicle model, the company announced its intention to make every effort to finalize the plan by the third quarter of next year. The union accepted this proposal, bringing the negotiations to a close.

The union plans to hold a vote of approval among its members on July 27 and 28. If the proposal fails to receive a majority of votes in favor, labor and management will have to resume negotiations.

Since the initial meeting in May, labor and management have continued for a total of 17 rounds of negotiations. As the discussions dragged on, the union staged partial strikes for four hours each, with the night shift on July 15 and 16 and the day and daytime shifts on the following day and on July 22, respectively.

A union official said, "With the drafting of the tentative agreement, all industrial actions have been halted. While there are some regrets about the company's proposal, we took into account the concerns about prolonged negotiations and the decline in operating profit this year as a whole."

This content was produced with the assistance of AI translation services.