The second provisional agreement for the “2023 wage negotiations” drawn by GM Korea’s labor and management was finally approved on the 26th through a member vote. In the voting, 6,830 out of all members participated, with 57.3% (3,911 members) in favor.
CEO Hector Bejarano stated, “It has become more crucial than ever to ensure perfect quality, safety, and supply with no margin for error for our customers worldwide. I appreciate the union and its members for helping us conclude this year’s negotiations before the Chuseok holiday. Going forward, we will strive to maintain stable business operations to continuously respond to global demand while enhancing our sustainable competitiveness through profitability.”
Meanwhile, GM Korea’s labor and management held 19 negotiation meetings, starting with a first meeting on June 22nd and culminating in the second provisional agreement on September 21st. The agreed provisions mainly include a basic salary increase of 80,000 KRW, a one-time settlement bonus of 5.5 million KRW, a performance bonus of 2.5 million KRW based on 2022 management performance, and a 2.5 million KRW encouragement payment for improving manufacturing and operational competitiveness.
Lee Sang-jin daedusj@autodiary.kr