Renault Samsung reaches tentative wage agreement

Renault Samsung Motors Co., the local unit of French automaker Renault S.A., said Wednesday that it has reached a tentative agreement on this year’s pay increase, pending a local court’s decision on a sticky labor-management issue on ordinary wages.

The agreement marks the third time this year that a South Korean original equipment car manufacturer reached an understanding on wage and collective bargaining agreement negotiations. The pact is still subject to a vote by all workers on Friday.

Renault Samsung said the breakthrough was made after 16 rounds of working-level and formal talks. Labor-management talks at the carmaker began in April, but workers have been engaged in partial walkouts since July after little headway was made. (Yonhap)