Kumho reaches agreement with Korean union

Korea’s Yonhap News reports that Kumho Tire reached a tentative wage agreement with the union representing workers at its domestic plants on 25 September. The deal is said to have been made following “overnight marathon negotiations.” Under the agreed-upon terms, the tyre maker will give workers 2.5 million won (£1,380) and 50 per cent of their monthly wages as lump-sum incentive payments. The agreement will be subject to a union vote on 27 September.

The tentative agreement came more than a month after the union ended a partial strike at Kumho’s Gwangju and Gokseong plants.