Korea GM Labor and Management Reach Final Agreement on 2026 Wage and Collective Bargaining... 15 Million Won in Bonuses

The First Automaker to Reach an Agreement This Year
First Settlement Before Summer Vacation in Eight Years

Korea GM has become the first automaker this year to reach an agreement on wage negotiations and collective bargaining.

Korea GM Labor and Management Tentatively Agree on Wage and Collective Bargaining Agreement... 15 Million Won Performance Bonus. Yonhap News

Korea GM announced that the tentative agreement on "wage and collective bargaining negotiations" for 2026 was finally approved on July 28 through a vote among union members.

A total of 6,193 union members participated in the vote, with 3,500 (a 56.5% approval rate) voting in favor of the tentative agreement.

The main points of the tentative agreement reached between Korea GM's labor and management include: ▲ a base salary increase of 92,000 won ▲ a one-time settlement payment and a performance bonus in connection with 2025 business performance ▲ a total of 15 million won in lump-sum and performance bonuses.

Asif Khatri, Executive Vice President of Manufacturing for GM International Operations, said, "This year’s conclusion of the wage and collective bargaining negotiations is a meaningful achievement reached through mutual understanding and a sense of responsibility between the company and the labor union despite challenging conditions. Building on this, we will continue to pursue stable production and business operations, as well as continuously strengthen the company's competitiveness."

Korea GM's labor and management held 17 rounds of negotiations, starting with their first meeting on May 27 and leading up to the drafting of the tentative agreement on July 22. The labor union conducted a vote on the tentative agreement among its members over two days, July 27 and 28.

This is the first time in eight years, since 2018, that Korea GM’s labor and management have completed the wage and collective bargaining negotiations before the summer vacation.

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