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05-Sep-07 12:10 [Asia Pacific]
Korean car strike averted Management and unions at Hyundai in South Korea have managed to reach agreement on pay and employee reward, thus averting the threat of a strike.
The issue was settled in the 12th round of talks at the company's plant in Ulsan, with the deal including a 5.8 per cent monthly pay rise and a 750 per cent larger bonus, Chosun reports.
Both sides praised each other for their constructive approach during the talks, which saw a strike over pay averted for the first time in ten years, with the Hyundai union saying the management had shown a "scrupulous" attitude.
At the weekend, the Associated Press reported that the union had voted in favour of taking industrial action in the dispute should talks fail, with 28,243 voting in favour and 12,544 against.
The union had been seeking an 8.9 per cent pay increase, while the union had originally offered 5.4 per cent.
Over 500 ground staff took part in a strike which resulted in heavy disruptions to flights in and out of Hong Kong after employee benefits were halved, it has been reported.
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