Trade union accepts Hyundai deal

on 04/09/2012 13:01:06

Hyundai Motor's trade union has voted to accept a deal for increased wages and the elimination of night-time shifts, ending one of the costliest strikes ever at South Korea's largest carmaker.

The union said today that 53% of more than 41,000 unionised workers voted to approve the deal that the union leaders and the company hashed out last week.

The approval ends the first strike in four years at Hyundai, which resulted in 1.4 billion US dollars of lost output according to the company's estimate.

The union staged walkouts that totalled 92 hours in July and August, pressuring the company to eliminate night-time shifts during annual negotiations on wages and working conditions.