Kia(000270) said on the 28th that the tentative agreement on wages and the collective agreement for 2026 was approved in a vote by union members.
Kia reached a deal on this year's wage and collective bargaining after 12 main negotiation sessions following the June 4 introductory meeting. The agreement centers on a 100,000 won increase in base pay and a management performance bonus of 300% plus 4 million won.
It also includes a 100% quality improvement incentive, a 4 million won incentive to mark winning the AutoCar Awards, 47 shares of company stock as a bonus for concluding collective bargaining, and up to 500,000 special points.
The wage deal was approved with 64.1% (14,409) in favor in a vote by 22,479 members who participated that day (91% turnout). The collective agreement recorded a 63.1% (14,178) approval rate.
Kia plans to hold a signing ceremony on the 31st to formalize this year's wage and collective bargaining agreement.