Kia Motors, Union Agree to Wage Deal
Kia Motors Corp., South Korea's second-biggest car maker, has followed compatriot Hyundai and settled with its auto union. The agreement, subject to a vote by union members, includes a 6.9 percent increase in basic salaries, similar to terms agreed to last week by affiliate Hyundai. However, analysts said the increased labor costs could be more of a burden for Kia than the more profitable Hyundai.
See "Kia Motors, Union Agree to Wage Deal", Reuters, The New York Times, September 12, 2005