Kia Workers Accept Wage Deal Without Strike For The First Time In A Decade: Report

Workers' Union at Kia Motors has voted to accept the company's wage proposals without a strike for the first time in 10 years. According to a report from IANS, the carmaker said that 68 per cent of 26,945 workers have voted in favour of the wage, which includes an increase of 75,000 won ($64.30) in monthly basic pay, two months of wages in performance-based pay and cash bonuses worth 5.8 million won. The report also mentioned that over 1,600 out of the 28,604-member union abstained.

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The wage agreement will be signed on Monday

The company has rejected the Union's demand to extend the retirement age from current 60 to 65, however, the company reinstated fired workers.

The automaker and the workers' Union reached a tentative wage deal early this week without staging a strike amid the ongoing COVID-19 pandemic. This is the first time that Kia will sign a wage deal without industrial actions. They will sign the wage agreement on Monday.

Last month, Hyundai Motor Company and its union signed this year's wage deal without strikes for the third consecutive year.