Renault Korea said on the 26th that a tentative agreement on 2026 wages and the collective agreement (wage and collective agreement) reached by labor and management won a majority in the union's vote.
The finalized wage and collective agreement was the plan drawn up at the 15th main talks on the 20th after an all-night negotiation between labor and management. Renault Korea concluded the negotiations about four months after talks began this year.
Key points of the wage and collective agreement are: ▲ a 51,000 won increase in base pay ▲ a one-time payment of 2.5 million won, including a bonus for peacefully concluding wage talks between labor and management ▲ payment of up to 100% of the variable productivity incentive (PI) (a little over 2 million won) ▲ an increase in job grade allowances ▲ payment of labor-management harmony biz points and a settlement leave, among others.
The tentative agreement by Renault Korea labor and management passed the final vote at the employee general meeting on this day, with 1,787 of 1,858 eligible voters participating. The approval rate was 50.1%.
Renault Korea said, "With this year's wage and collective agreement concluded, we plan to focus further on quickly overcoming recent business challenges and making our new projects a success."