Overview
- Management and the Hyundai Motor union reached the tentative agreement in their 17th round of talks, including a 100,000‑won monthly base raise, a performance bonus worth more than 400% of monthly pay and an extra cash payment of about 12.5 million won.
- The package includes commitments to hire 500 technical and production workers through 2028 plus non‑cash benefits reported by the company such as welfare points and company shares.
- On automation, the parties agreed to share information and consult on new projects and robotics rollouts rather than give the union veto power over AI deployments.
- The union staged its first full‑day strike in a decade on Friday with roughly 40,000 workers after about 60 hours of stoppages this year, a campaign that industry sources say cost production of about 55,200 vehicles and more than 2.3 trillion won in sales.
- Next steps are a union ratification vote on Aug. 31 and a production ramp‑up if approved, while any change to the retirement age from 60 to 65 depends on South Korean legislation being passed.