The management and union of Renault Korea Motors, the South Korean unit of Renault, has sealed a wage deal after an extended labour strike over wages and working conditions.
Unionised workers of Renault Korea have engaged in a full-scale strike since September 13, demanding improved wages and working conditions. According to the company, the labour union held a vote on whether to accept a tentative wage and collective bargaining agreement, with 50.5 percent of the members voting in favour, reports Yonhap news agency.
Increase in base salary and performance incentive
The package includes an 80,000 won (USD 59) increase in base salary and a 3 million-won performance incentive for the successful launch of the company’s mid-sized SUV Grand Koleos, among others.
Following the wage deal, Renault Korea said it is now able to focus more on the success of the Grand Koleos, which has been well-received in the market, as well as on the advancement of future projects.
3900 units of Grand Koleos sold
The Grand Koleos made an impressive sales debut by selling 3,900 units in its first month. The model, which was first unveiled at the Busan International Mobility Show in May, accounted for most of the company’s total sales of 4,980 units in September.
Renault Korea, union reach wage deal after extended labor strike https://t.co/iJ3cCqFsO4
— Yonhap News Agency (@YonhapNews) October 11, 2024
Renault motors sales declined
Meanwhile, Renault Korea Motors’ sales declined 5.3 per cent last month from a year earlier on decreased exports. Renault Korea sold 8,625 vehicles in September, down from 9,105 units a year earlier due to sluggish overseas demand, the company said in a statement.
Domestic sales tripled
Domestic sales more than tripled to 5,010 units from 1,651 during the same period, while exports plunged 52 percent on-year to 3,615 units from 7,454, it said. “Strong sales of the new midsized Grand Koleos SUV buoyed the domestic sales last month,” the company said.
Total sales fell 26 per cent
From January to September, its sales fell 26 per cent to 64,656 autos from 87,201 units in the same period last year. Domestic sales climbed 11 percent to 19,042 units in the first nine months from 17,128, while exports dropped 35 percent to 45,614 from 70,073 during the same period.
