Kia labor and management concluded this year's wage and collective bargaining talks.
The Kia labor union said on the 30th that, in a vote of all 25,821 members on the tentative agreement for this year's wage and collective bargaining, a majority of 73.1% (15,601) of the 21,356 voters approved it, passing the deal.
The agreement includes a 100,000 won increase in base pay and a performance bonus of 450% + 16 million won. The performance bonus consists of ▲ a management performance bonus of 350% + 7 million won ▲ an incentive for meeting production and sales targets of 100% + 3.8 million won ▲ a 5 million won incentive commemorating selection for the World Car Awards for two consecutive years ▲ a 200,000 won traditional market gift certificate. As an incentive for concluding the collective bargaining, 53 shares will also be granted as a stock grant.
To resolve confusion related to the scope of ordinary wages, labor and management agreed to include allowances, holiday subsidies, and summer vacation pay in ordinary wages. They also agreed to hire 500 engineers (production workers) by the end of next year.
With this, Kia labor and management completed wage and collective bargaining without a strike for the fifth consecutive year since 2021. The signing ceremony for the agreement is scheduled for Oct. 1.