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GM's Korean unit reaches tentative wage deal to avert strike
July 28, 2014 / 7:46 AM / 3 years ago

GM's Korean unit reaches tentative wage deal to avert strike

SEOUL, July 28 (Reuters) - General Motors’ South Korean unit reached a tentative wage deal with its labour union on Monday to stave off a potential strike at one of its key Asian production bases, a source who has direct knowledge of the matter told Reuters.

GM Korea agreed to pay a combined 10.5 million Korean won ($10,200) in bonuses and incentives to each worker and raise the basic wage by 63,000 won, among other things, the person said.

The deal is subject to a vote by GM’s South Korean workers, the official said on condition of anonymity, because he is not authorized to speak to the media.

A company spokesman confirmed the deal was made, and is checking details of the pact. ($1=1025.9500 Korean won) (Reporting by Hyunjoo Jin; Editing by Clarence Fernandez)

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