Kia’s 30,000-strong union tentatively accepted the company’s proposals, including a 98,000 won (US$68) increase in basic monthly pay, three months of performance-based pay, 5.5 million won in cash, 250,000 won in a gift certificate per person and 49 Kia stocks, the company said in a statement.
The company also agreed to make “joint efforts” with the union in transforming its domestic plants into a core production facility for future vehicles, such as purpose-built vehicles, reports Yonhap news agency.
The tentative deal will be put up for a vote next week, the statement said.
Kia has eight plants in Korea — two in Gwangmyeong, three in Hwaseong and three in Gwangju — and seven overseas ones — three in China and one each in the United States, Slovakia, Mexico and India. Their overall annual capacity is 3.84 million units.
From January to September, Kia’s vehicle sales rose 2 percent to 2,171,274 units from 2,128,410 during the same period of last year.
Kia aims to sell 3.15 million vehicles globally this year.
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