BUSINESS

Renault Samsung union tentatively OKs wage terms

By Yonhap
  • Published : Aug 30, 2017 - 13:45
  • Updated : Aug 30, 2017 - 13:45
Renault Samsung Motors Corp.'s union has tentatively agreed on this year's wage terms, after staging no strikes for the third year in a row, the company said Wednesday.

In wage negotiations that began in May, the Renault Samsung Motors offered to raise basic salaries by 62,400 won ($56) a month and provide 150 percent of basic pay plus cash of 6 million won in bonuses per worker.
 

(Yonhap)

On Friday, some 2,500 union members will vote to decide on whether to accept the terms or not. If more than 50 percent of the voters back the agreement, the company and its union will wrap up talks for this year, a company spokesman said.

In the January-July period, Renault Samsung sold a total of 159,190 vehicles, up 12 percent from 142,413 units a year earlier.

French automaker Renault S.A. owns an 80-percent stake in Renault Samsung. (Yonhap)