After 26 rounds of negotiations, GM Korea's labor and management have reached this year's wage and collective agreement.
GM Korea's labor union said on Dec. 18 that the second provisional agreement of "2020 Wage and Collective Agreement Negotiations" drawn by labor and management was finally approved in a vote.
Among the total union members, 7,304 participated in the vote, with 54.1 percent (3948 votes) in favor.
Previously, GM Korea's labor and management came up with the first provisional agreement of the year after about four months of negotiations on Nov. 25, but it was rejected by 45.1% of the vote for and against union members on Dec. 1.
The first tentative agreement calls for the management to pay 4 million won, including 3 million won in a lump sum and bonus per member and 1 million won in special incentives to overcome the COVID-19 crisis, and extend the production schedule of the Bupyeong 2 plant as much as possible.
Labor and management prepared a second provisional agreement on Dec. 10 and held a two-day vote on the pros and cons of union members from Dec. 17 to 18.
The second agreement further reflected the union's demands, including the withdrawal of a compensation suit filed by the management against the union and the increase in the discount rate when executives and employees purchase vehicles.
GM Korea plans to speed up the normalization of its management as it is able to complete wage and collective bargaining within this year.
GM Korea said shortly after the approval, "We are happy to finalize the wage and collective agreement between labor and management within this year," adding, "We will continue to carry out the management normalization plan in the future."
