Daewoo Shipbuilding Workers OK Wage Deal

Unionized workers of Daewoo Shipbuilding & Marine Engineering Co. at the company's shipyard in Geoje, South Gyeongsang Province on June 3, 2019. (Yonhap)

Unionized workers of Daewoo Shipbuilding & Marine Engineering Co. at the company’s shipyard in Geoje, South Gyeongsang Province on June 3, 2019. (Yonhap)

SEOUL, Nov. 1 (Korea Bizwire)Unionized workers at Daewoo Shipbuilding & Marine Engineering Co. have approved a wage deal, the shipbuilder said Friday, ending monthslong negotiations that led to strikes.

Daewoo Shipbuilding said 62 percent of 5,277 workers approved the wage and collective agreement that includes a 1.1 percent increase in base pay and other bonus payments.

The management and labor union reached the tentative deal on Tuesday.

The two sides held 37 rounds of wage negotiations since May to reach the agreement.

Daewoo Shipbuilding is the second major shipyard after Samsung Heavy Industries Co. to finalize its wage deal this year. Industry leader Hyundai Heavy Industries Co. has ....

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