Renault Korea, 2026 Wages and Collective Bargaining Agreement Finalized…Approval Rate Reaches 50.1%

*This content was translated by AI.

Renault Korea officially announced on the 26th that its 2026 wages and collective bargaining agreement (Wage and CBA) tentative agreement has been finalized following a company-wide vote. Out of 1,858 eligible employees, 1,787 cast ballots, with 50.1% voting in favor, securing the final settlement. This resolution allows labor and management to conclude this year’s collective bargaining smoothly.

The negotiations began with an initial meeting on April 27 and spanned approximately four months, involving a total of 15 rounds of formal talks marked by intense back-and-forth exchanges. Notably, the final round of formal negotiations held on August 20 culminated in a dramatic breakthrough after a marathon 16-hour overnight session.

Key provisions of the tentative agreement reached by both labor and management include: ▲a base wage increase of 51,000 won; ▲one-time payments totaling 2.5 million won, including an incentive for peaceful wage negotiations; ▲variable productivity incentives (PI) up to 100% (approximately equivalent to 2 million won); ▲increases in job-grade allowances; and ▲the issuance of labor-management harmony business points and settlement leave days.

A company representative emphasized that, with this collective bargaining agreement finalized, the entire organization will focus its efforts on overcoming the current severe and challenging domestic and external business conditions as soon as possible. The representative also added that labor and management will continue to cooperate closely to ensure the successful completion of key new vehicle projects driving the company’s future sustainable growth.

This settlement by Renault Korea is significant as it demonstrates how labor and management, even amid rapidly changing automotive industry dynamics and the company’s recent challenges, have established a path for mutual prosperity through dialogue and compromise grounded in mutual trust.

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*This content was translated by AI.