Renault Korea Fully Finalizes 2026 Wage and Collective Bargaining Agreement

[Financial News] Renault Korea Co., Ltd., the top manufacturing company in Busan by sales, said on the 26th that its 2026 wage and collective bargaining agreement was fully approved after a vote on the tentative deal, with 50.1% in favor.
Labor and management at Renault Korea had worked for about four months to reach a deal, holding 15 rounds of main negotiations since their first meeting on April 27.
In the final round of talks on the 20th, the two sides reached a tentative agreement after 16 hours of overnight negotiations. The deal included a 51,000 won increase in base pay, a total of 2.5 million won in one-time payments such as a bonus to encourage a peaceful wage settlement, a variable productivity incentive of up to 100% worth about 2 million won, higher job-grade allowances, and the payment of labor-management harmony Biz Points and settlement leave.
The tentative agreement was finally approved in a companywide vote, with 1,787 of 1,858 eligible voters participating.
With this year's wage and collective bargaining agreement settled, Renault Korea said labor and management plan to focus more on overcoming recent business difficulties early and ensuring the success of new projects.
[email protected] Byeon Ok-hwan Reporter