Kia union approves wage deal, marking 6th straight year without strike

Kia Corp. said Friday its labor union has approved this year's wage agreement, wrapping up annual negotiations without a strike for the sixth consecutive year. The agreement was approved by 64.1 percent of union members who voted, with 91 percent of the union's 24,710 members taking part, the Korean automaker under Hyundai Motor Group said. Kia and its labor union reached the tentative agreement Tuesday, averting a planned strike just a day before it was set to begin. Under the deal, Kia will raise monthly base pay by 100,000 won ($72.20), provide a performance bonus equivalent to more than 400 percent of workers' monthly salary and make an additional payment of 12.7 million won to each employee.