GM Korea Employees Approve Wage and CBA Agreement

SEOUL--(Korea Newswire)--Union members at GM Korea Company today ratified a tentative agreement on wage and CBA reached between the company and its union on September 18. The agreement was supported by 60.0 percent of the 13,247 union members who voted.

The company and its union held 31 rounds of 2012 wage and CBA negotiations starting with a kick-off meeting on May 17.

The agreement includes a monthly base wage increase of KRW 95,000, a lump-sum payment of KRW 3 million to be paid upon ratification of the agreement, a payment of KRW 6 million in performance pay to be paid at the end of the year and several improvements in the employment structure such as the implementation of back-to-back 2 shift work system.

Website: http://media.gm-korea.co.kr

This is a news release distributed by Korea Newswire on behalf of this company.