HD Hyundai Heavy Industries and its labor union have reached a tentative agreement that includes a 120,000 won increase in base salary and an average compensation of 40.56 million won for 2026.
According to the company and the union on September 30, the tentative agreement includes a fixed salary increase of 120,000 won (including a 50,000 won step increase), a one-time payment of 11 million won, and a 200% support fund for securing competitive orders, along with performance bonuses.
The one-time payment consists of a 5 million won congratulatory bonus for signing a special agreement on industrial transition, a 3 million won incentive for productivity improvement, a 2 million won cooperation bonus, and a 1 million won congratulatory gift certificate for signing a unified collective agreement. The total annual compensation effect per member averages 40.56 million won, an increase of 1.061 million won compared to 2025.
This tentative agreement also includes provisions for the integration of collective agreements in line with the merger with HD Hyundai Mipo, as well as measures to expand maternity protection and welfare benefits. The duration of congratulatory leave for childbirth has been extended from 10 days to 20 days, and six days of infertility leave have been newly established. The severance pay for employees retiring after 20 years of service has been increased from one month’s salary to two months’ salary, and a comprehensive health check-up system for retirees and their spouses has been introduced.
The company and the union reached this agreement after a 14-hour overnight negotiation that began at 2 p.m. the previous day, marking the 22nd round of negotiations. This comes 120 days after the first meeting on June 2. The union plans to hold a vote on the tentative agreement for all members on October 2. If a majority of voters approve, the negotiations will be finalized.
During the negotiation process, the company and the union had differing views on the extent of the wage increase and the expansion of fixed salaries, leading the union to conduct seven partial strikes totaling 37 hours. However, they found common ground in the need to prevent production disruptions during a boom in the shipbuilding industry and to revitalize the organizational atmosphere.
An official from HD Hyundai Heavy Industries stated, "We hope that this will lead to a final agreement based on the members' full understanding and empathy, allowing both labor and management to enhance the company's competitiveness and invigorate the local economy."
* This article has been translated by AI.
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