Kumho Tire and its labor union announced on August 21 that they have reached a tentative agreement on this year's wage and collective bargaining agreement.
The key points of the agreement include a 3% increase in base salary, a performance incentive payment of 5.5 million won, a 2.5 million won payment for the implementation of a special agreement from 2018, a 500,000 won incentive payment, and measures to enhance future competitiveness.
The company and union have committed to improving quality and productivity, securing technological competitiveness, and strengthening facility competitiveness to expand the market and ensure future competitiveness.
They also plan to support stable employment and smooth return to work for employees affected by a fire, and will promote job training and reassignment in consideration of vacancies and training periods, aiming for an agreement by the end of the year.
The tentative agreement will be put to a vote among union members on August 23-24, which will determine its final approval.
A Kumho Tire representative stated, "In a time when conflicts between labor and management are occurring in various workplaces, it is significant that both sides have found common ground without physical confrontation to prepare for the future, overcoming past challenges such as the fire."
* This article has been translated by AI.
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