[Edaily Reporter LEE YUNHWA ] Labor and management at Hyundai Motor Company have reached a tentative agreement approximately 110 days after beginning this year’s wage and collective bargaining negotiations. The labor-management conflict—which began with an introductory meeting on May 6 and included 17 rounds of formal negotiations, several partial strikes, and the first full-scale strike in 10 years—came to a temporary conclusion following marathon negotiations that lasted until the early hours of the 25th. The tentative agreement will be finalized following a vote by union members on the 31st.

Hyundai Motor’s management and labor began their 17th round of main negotiations at the Ulsan plant at 2:00 p.m. on the 24th and continued negotiations until the early hours of the 25th. Although the union had initially announced partial strikes for the 24th and 25th, it postponed the strikes to focus on negotiations following the resumption of the 17th round of talks. The union has staged a cumulative 60 hours of strikes this year and, on the 21st, carried out an 8-hour full-scale strike—the first in 10 years since 2016.

On the key issue of wages, management presented its fifth supplementary proposal, offering a 100,000 won increase in base pay—2,000 won higher than the fourth proposal. For performance bonuses, they agreed to provide 400% of base pay plus a lump-sum payment of 12.7 million won, along with 15 shares of stock and 500,000 won in Hash Points. Compared to the fourth proposal—which included a 400% performance bonus, a lump-sum payment of 12.2 million won, 15 shares of stock, and 200,000 won in Digital Onnuri gift certificates—the company increased the lump-sum payment by 500,000 won, converted the gift certificates to cash, and added 500,000 won in Hash Points.

Management and labor also reached a significant consensus on issues beyond wages. They agreed to recruit 500 new technical staff, with 200 to be hired in the second half of 2027 and 300 in 2028. They also reached an agreement on matters related to the basic labor rights of indirectly employed workers. They also reviewed the progress of working-level discussions on regional issues at the Namyang Research Center, Jeonju Plant, Asan Plant, and the sales division.

Regarding the extension of the retirement age, the parties agreed that if the law is amended, they will implement a standard extension of the retirement age rather than further expanding the current wage peak system. The bonus increase—a major point of contention in this year’s negotiations—will be revisited during collective bargaining in 2027. The summer vacation allowance will be increased by 200,000 won, from the current 800,000 won to 1 million won, effective in 2027.

The reinstatement of dismissed employees and the issue of provisional attachments for damages were also included in the agreement. Management agreed to resolve the reinstatement issue through a change in stance, concessions, and forward-looking discussions, and agreed to withdraw all 10 provisional attachments for damages filed in connection with union activities. According to union data, the total amount of these provisional attachments is 21.37 billion won.

With this tentative agreement, Hyundai Motor’s management and labor union have brought the long-standing wage and collective bargaining dispute to a close and can now move toward normalizing production. However, for the agreement to be finalized, it must pass a membership vote scheduled for the 31st. If the tentative agreement is approved in the membership vote, this year’s Hyundai Motor wage and collective bargaining negotiations will be officially concluded.