Hyundai reaches tentative wage deal amid widespread strikes

Hyundai Motor’s union reached a tentative wage agreement after about 60 hours of strikes, with a ratification vote set for Aug. 31 and a package including a 100,000 won base pay rise, a large bonus, stock, and a vacation increase, though it leaves several demands unresolved for future negotiations. The deal also includes staffing commitments of 500 new hires and potential retirement-age adjustments if laws change, while several long-standing issues were settled or deferred and all damage claims were dropped. Simultaneously, Hyundai’s broader wage talks resumed after a major full-day strike involving around 40,000 workers, with unions pressing for a 149,000 won basic pay rise, a 50% surge in bonuses, and a higher retirement age amid fears about AI transforming the industry, though management warned it could not accept these demands without a solid basis. The period has seen estimated production losses around US$1.6 billion as strikes accumulate, even as Hyundai reported record quarterly revenue but weaker profit. In related actions, HD Hyundai Heavy Industries failed to narrow its wage dispute in mediation, earning the legal right to strike and planning a vote, signaling continued labor tension within the broader Hyundai group. Overall, autoworker strikes across Hyundai and its affiliates have added up to substantial production disruptions and costs, with unions pursuing targeted, partial actions rather than broad, sustained walkouts.