Hyundai Motor and its labor union reached a tentative wage agreement on Tuesday, ending more than three months of negotiations that had led to strikes and production disruption. The deal raises monthly base pay by around $70 (100,000 won) and provides performance compensation of 400% plus around $9,160 (12.7 million won), 15 Hyundai shares and $360 (500,000 won) in welfare points. Union members will vote on the agreement on Aug. 31.

The agreement also commits Hyundai to hire 200 technical workers in the second half of next year and 300 more in 2028, while labor and management agreed to