Kia and South Korean union reach tentative wage deal, Yonhap says

Kia reached a tentative wage agreement with its South Korean labor union, according to Yonhap, avoiding partial strikes scheduled to begin Wednesday. The deal will be put to a vote by union members. Planned walkouts for Aug. 26-28 would be withdrawn if the agreement is approved. Under the tentative terms, Kia workers would get a 100,000-won increase in monthly base pay, plus a performance incentive package worth 400% of monthly wages and an additional 12.7 million won, Yonhap reported. The union had authorized strike plans on Aug. 21 but reversed course after reaching the tentative accord a day earlier.