Korea GM Labor Agreement Reached... 65% of Union Members Approve Second Tentative Agreement

Wage Negotiations Virtually Finalized

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] The wage negotiations between the labor and management of Korea GM (GM) for this year have been virtually settled following two rounds of tentative agreements and union votes.

The Korea GM branch of the Korean Metal Workers' Union announced on the 24th that the approval rate for the second tentative wage agreement, voted on by 7,012 union members, was 65.7%.

Among the union members who participated in the vote starting the previous day, 4,604 voted in favor of the tentative agreement. 2,369 voted against it, and 39 ballots were invalid.

With the approval rate exceeding 50% of the voters, the wage negotiations between Korea GM labor and management, which began on May 27, have been virtually finalized.

Meanwhile, labor and management at Korea GM had prepared a tentative wage agreement on the 22nd of last month and conducted a union vote, but the agreement was rejected as 51.15% of the members voted against it.