Hyundai Motor union agrees to wage freeze in 1st strike-free year in 15 years

ULSAN, Dec. 22 (Yonhap) -- Hyundai Motor Co.'s labor union tentatively agreed
Tuesday to a wage freeze for this year without resorting to a walkout, marking
the first strike-free year in 15 years.

The agreement reached in Ulsan, the biggest local plant of the nation's top auto
producer located 414 kilometers south of Seoul, marks the company's first full
year without any labor strikes since 1994, according to the company.
The agreement is subject to a vote by union members, which is set for Wednesday.
"The union expects a wise decision from our members, as we painfully reached the
decision to an agreement over strikes," said Chang Kyu-ho, a union spokesman.
An agreement to a freeze in wages also marks the first of its kind since the
biggest local union was launched in 1987, except in 1998, when the Asian
financial crisis resulted in deep cuts in its workforce.
The rare move by one of the most militant labor unions in the country came after
last year's global financial turmoil disrupted the company's sales.
pbr@yna.co.kr