ULSAN, Aug. 12 (Korea Bizwire) - After Hyundai Motors announced that they would be adopting a salary peak system, they also discussed the idea during a recent bargaining session.
At the negotiation session held on August 11, there were 50 bargaining agents present. Since the negotiation was held right after the group announced that they would be adopting the salary peak system, their intentions seemed clear that they were trying to seal the deal.
Yoon Gap-han, the head of Hyundai Motors, emphasized that the salary peak system was a new trend. “In order to enlarge employment of young people and reciprocate to the demand of employment stability, we are planning to adopt the system.”
However, the feedback from the union was negative, stating that they were sorry that Hyundai Motors adopted the salary peak system earlier than public enterprises.
The target of the salary peak system will be 150,000 employees from all 41 affiliates. It will be applied to executive employees first, and after consultation with the union, will be spread to all employees.
By Francine Jung (email@example.com)