Hyundai Motor and its labor union reached a tentative agreement on this year's wage negotiations early this morning (the 25th).

The labor and management drew up a tentative agreement that includes a 100,000 won increase in the monthly base salary, a 400% performance bonus, and a one-time lump-sum payment of 12.7 million won.

The tentative agreement will be finalized if it passes a vote by union members on the 31st.