45,000 unionized employees at Hyundai of South Korea voted today to accept a wage deal, under which basic salaries will remain frozen. Cash and company shares will be paid out as incentives. About 95% of the union participated in the vote, which was approved by 62% to 37%. The agreement garnered attention as one of the easiest in recent years, as the South Korean union has been notorious in the past for striking over wage negotiations and various political issues, contributing to slowed production and sales. The relative ease with which this years contract was approved made 2009 the first year Hyundai has gone without a strike since 1994.
See "S. Korea Hyundai motor union accepts wage deal", Rhee So-eui, Reuters, December 23, 2009