KGM Concludes 2026 Wage Negotiations Without Labor Disputes for 17 Consecutive Years

KG Mobility (hereafter referred to as KGM) has officially concluded the 2026 wage and collective bargaining (hereafter referred to as "wage negotiations") process following a union vote on July 29, in which the tentative agreement was approved by majority in favor.

The company stated that, as a result, KGM has now completed 17 consecutive years of negotiations without any labor disputes since 2010. This achievement, it said, allows the company to focus all capabilities on expanding sales volume and improving profitability, based on a model labor-management culture of mutual cooperation and coexistence.

After the 2026 wage and collective bargaining negotiations, KGM CEO Ki-Young Hwang (left) and Labor Union Chairman Cheol Roh are shaking hands. KGM

The 2026 wage negotiations began with an introductory meeting in June and reached a tentative agreement during the 18th meeting held on the 27th, with final approval secured through a union vote in favor on the 29th.

The main points agreed upon in this round of negotiations include a raise of 75,000 won in base salary and total payments of 3.6 million won, including Productivity Incentive (PI) bonuses.

The labor union and management at KGM collaborated throughout this process, sharing both the company's current challenges and long-term vision, and engaged in in-depth, productive discussions focusing on tangible progress.

Both sides particularly agreed that this negotiation represented a significant turning point in determining whether the company can continue to grow and develop sustainably. They conducted genuine negotiations with a focus on ensuring stable production, enhancing efficiency, and actively pursuing new businesses to respond to changing market environments.

A KGM official commented, "In the 2026 wage negotiations, there was a shared recognition that corporate growth leads to a virtuous circle of expanded employee welfare, and this allowed us to resolve our differences for the sake of the company’s long-term stability and development." The official added, "Since the 2026 wage negotiations concluded early this year, we will redouble our efforts in the second half of the year to boost sales volume and expand profitability, including strengthening our global market strategy."

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