Sale of Service Centers and Idle Facilities
"To Be Discussed by the Employment Stability Committee"
Korea GM announced that the tentative agreement for the "2025 wage negotiations" was finalized on September 23 through a union member vote. Although the negotiations between labor and management have concluded for now with this vote, tensions remain due to the company's push to sell its directly operated service centers and idle facilities at the Bupyeong plant.
A total of 6,508 union members participated in the vote, with 4,330 members (a 66.5% approval rate) voting in favor. However, the approval rate among members of the service center branch was only 25.9%.
The main points of the agreement include: a base salary increase of 95,000 won; a lump-sum settlement payment and a 2024 management performance bonus totaling 17.5 million won; a 200,000 won traditional market gift certificate to promote coexistence with the local community; and increases in various allowances.
Labor and management also added a clause to the agreement stating that "there are no predetermined outcomes regarding the sale of directly operated service centers and idle facilities at the Bupyeong plant, and the Special Committee on Employment Stability will continue its work."
Robert Trim, Vice President of Labor Relations and Human Resources, stated, "We are pleased that the approval of the agreement allows us to conclude the labor negotiations. From now on, we will do our best to overcome ongoing external uncertainties and to secure the company's competitiveness and sustainability."
Meanwhile, Korea GM's labor and management held 19 rounds of negotiations, starting with the initial meeting on May 29 and reaching a tentative agreement on September 18. The union then held a general assembly (approval vote) on September 22 and 23 to decide on the tentative agreement.
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