Hyundai and Kia Expand Base Pay Definitions, Raising Labor Costs and Industry Concerns

SEOUL, Sept. 29 (Korea Bizwire) — South Korea’s two largest automakers, Hyundai Motor and Kia, have agreed to broaden the scope of “ordinary wages” in their latest labor agreements, a move that could reshape labor relations and intensify cost pressures across corporate Korea. The accords, reached earlier this month, follow a Supreme Court ruling last December [...]