Hyundai reaches preliminary wage deal with union after strike

SEOUL, South Korea — Hyundai Motor has reached a preliminary agreement with the union representing its employees on wages and bonuses, the two sides said on Tuesday. The deal follows a strike staged by the union, with both Hyundai Motor and the union confirming that a consensus had been reached on the draft text. Under the agreement, the deal covers wage increases and bonuses, though specific figures have not yet been disclosed. Both parties said further details would be released once they are finalized. The agreement is now expected to be put to a vote by union members for final approval, with the two sides also set to share information on the implementation timeline. No further details were immediately available on the size of the wage hike or the duration of the bonus arrangement.