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Photo = Hyundai Motor |
[Alpha Biz= Reporter Kim Jisun] Kia has reached a tentative agreement on wages and collective bargaining without any labor disputes for the fourth consecutive year, ahead of the Chuseok holiday. On the 9th, Kia's labor and management teams held the 9th main negotiation session at Autoland Gwangmyeong, where they finalized the tentative agreement. A vote among union members on the agreement will take place on the 12th.
The key points of the tentative agreement are as follows:
Base Salary Increase: An increase of 112,000 KRW, including annual raises based on seniority.
Performance Bonuses:
300% of base salary + 10 million KRW as a performance bonus.
100% of base salary + 2.8 million KRW as a bonus to commemorate Kia's 80th anniversary.
100% of base salary + 5 million KRW as a special bonus for record performance.
A 200,000 KRW gift card for traditional markets to stimulate the local economy.
Stock Compensation: In recognition of the peaceful labor agreement, 57 shares of Kia stock will be awarded.
One of the notable aspects of this agreement is the introduction of a new compensation system based on job performance. For engineers and technical roles, a separate increase standard based on job difficulty has been established. Sales staff will receive an 8,000 KRW increase in commission over the next five years, and office workers will have their compensation differentiated based on performance evaluations from the existing HR system.
This agreement is expected to play a key role in maintaining stable labor-management relations at Kia.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
