Hyundai Motor, Zuid-Koreaanse vakbond, stemt ermee in de lonen voor het eerst in 11 jaar te bevriezen – Reuters UK

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FILE PHOTO: The logo of Hyundai Motors is seen on a steering wheel of a all-new Sonata sedan on display at the company’s headquarters in Seoul, South Korea, March 22, 2019. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – Hyundai Motor005380.KSand its South Korean union reached a tentative deal to freeze wages for the first time in 11 years this year, an internal message distributed to union members showed on Monday.

The deal is subject to a vote by union members on Sept 25.

South Korea’s Hyundai, which together with sister company Kia Motors000270.KS, is the world’s fifth-largest automaker, said its global retail sales fell 33% in the second quarter, and flagged that the pace of recovery will be slow due to the impact of the coronavirus pandemic.

Reporting by Cynthia Kim, Hyunjoo Jin, editing by Louise Heavens

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