KGM wraps up wage talks without dispute for 17th consecutive year

KG Mobility said Friday it has concluded its 2026 wage and collective bargaining negotiations after union members voted Wednesday to approve a tentative agreement.

The settlement marks the 17th consecutive year since 2010 that KGM has wrapped up labor talks without a work stoppage. Negotiations began with a preliminary meeting in June and reached a tentative deal in the 18th round of talks on Monday, before union members ratified it by vote on Wednesday.

The key terms include a 75,000-won ($52) increase in base pay and a total payout of 3.6 million won covering production incentives and other allowances.

KGM said management and the union held substantive discussions throughout the process, sharing the company's current challenges and long-term vision. Both sides focused on stable production, improved efficiency and the pursuit of new business ventures to adapt to a changing market environment.

"In this year's wage negotiations, both sides agreed that the company's growth directly feeds into a virtuous cycle of expanded welfare, and we were able to bridge our differences for the sake of the company's long-term stability and development," a KGM official said. "Having wrapped up this year's talks early, we will now focus all our efforts on boosting second-half sales and expanding profitability, including strengthening our push into global markets."