Hyundai Heavy Industries prepares a tentative agreement for two-year labor-management negotiations… 3rd Provisional Agreement

Ulsan Mayor Song Cheol-ho visits the headquarters of Hyundai Heavy Industries in Ulsan on the 13th to meet with the union executive and asks for a prompt conclusion of the wage negotiations. Provided by Ulsan City

The labor and management of Hyundai Heavy Industries prepared the 3rd interim agreement on wages and collective agreements for 2019 and 2020.

The labor and management tentatively agreed to a two-year collective bargaining agreement at the 10th integrated main negotiations held at the Ulsan headquarters on the 13th. It has been 102 days since the second provisional agreement was rejected in a member vote on April 2nd.

The key to the third provisional agreement is to raise the base salary by 41,000 won (including the salary increase) in 2020.

Existing provisional agreements include a 46,000 won increase in basic salary in 2019 (including salary increase), a freeze in basic salary in 2020, bonuses and incentives, special incentives of 2 million won, and cancellation of various labor-management litigation that occurred during the division of physical property (corporate division), etc. It was.

A vote in favor of or against the third provisional agreement will be held on the 16th. If approved, the labor-management negotiations at Hyundai Heavy Industries will be concluded in about two years and two months.

Previously, labor and management failed to reach an agreement after a meeting in May 2019, such as having a conflict over the corporate spin-off general meeting of shareholders. Although the first provisional agreement was drawn up in February of this year and the second provisional agreement in April, none of them passed the threshold of the general meeting of union members. It is the first time in the history of Hyundai Heavy Industries’ labor-management negotiations that it has failed to pass even the second provisional agreement.

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