Hyundai Motor and its labor union reached a tentative 2026 wage and collective bargaining agreement after 111 days and 17 formal rounds, with a full membership vote set for August 31. The package features a 100,000 won (approximately $72.20) monthly base-pay increase including seniority steps. Union accounts describe a performance bonus of more than 400% of monthly salary plus an additional payment reported variously as 12.5 million won and, in fuller deal breakdowns, 400% plus 12.7 million won (approximately $9,200), along with 15 company shares, 500,000 won (approximately $360) in Hash Points, and a rise in summer vacation pay to 1 million won from 2027. Factoring in an annual wage effect of about 6 million won from the base hike, the union put the overall package near 40.84 million won (approximately $30,000). The sides will hire 500 technical workers—200 in late 2027 and 300 in 2028—despite domestic plant restructuring, and will implement any legislated retirement-age extension without expanding the wage peak system, using freeze and reduction steps if the age reaches 65. Hyundai will withdraw 10 damages claims totaling 21.37 billion won (approximately $15.5 million), while regular bonus increases shift to 2027 talks. This year’s 60 strike hours, including the first full walkout since 2016, halted production for about 120 hours, cutting an estimated 55,200 units and about 2.35 trillion won (approximately $1.7 billion) in revenue. Both sides pledged to prioritize second-half output and new launches and to jointly manage industrial transition through physical AI and robotics. Labor disputes continue across Ulsan’s shipbuilding, city bus and steel sectors, including profit-sharing demands at HD Hyundai Heavy Industries and related yards.