(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Hyundai Mobis management and labor have reached a tentative agreement on this year's wage and collective bargaining negotiations.

On the 9th, industry sources reported that Hyundai Mobis and its labor union had reached a tentative agreement, which includes a basic wage increase of 112,000 KRW (including step increases) and performance bonuses and incentives totaling 500% + 15.2 million KRW.

This agreement comes after Hyundai Motor Company reached a similar tentative agreement the previous day, which included a basic wage increase of 112,000 KRW and performance bonuses totaling 400% + 10 million KRW. Hyundai Mobis' agreement follows a similar structure.

The key points of Hyundai Mobis' tentative agreement include:

A basic wage increase of 112,000 KRW (including step increases)
Performance bonuses of 400% + 10 million KRW
Incentives for achieving core management goals of 100% + 11 weeks
Incentives for expanding global orders of 5 million KRW + 20 weeks
Traditional market gift certificates worth 200,000 KRW
 

Additionally, Hyundai Mobis agreed to provide 5 weeks of additional leave to each employee by the end of September, separate from the wage negotiations.

Hyundai Mobis also plans to offer rewards for personal contributions to the employee stock ownership plan. Employees who contribute to the plan this year, including those who made contributions in the first half of the year, will receive a reward of 1 million KRW for a 4 million KRW contribution and 1.5 million KRW for a 6 million KRW contribution.

 

 

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