Did Hyundai India Sign a Wage Agreement with Employees' Union?
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Synopsis
Hyundai Motor India has officially signed a significant wage settlement agreement with the United Union of Hyundai Employees for 2024-2027. This historic pact offers an unprecedented salary increase, enhancing employee welfare and setting new industry standards.
Key Takeaways
- Wage Settlement: New agreement with UUHE for 2024-2027.
- Salary Increase: Rs 31,000 per month increase.
- Employee Welfare: Enhanced health coverage and wellness programs.
- Employee Representation: UUHE represents 1,981 employees.
- Positive Stock Performance: Hyundai India shares rose by 1.82%.
Chennai, Sep 17 (NationPress) Hyundai Motor India announced on Wednesday that it has finalized a wage settlement agreement with the United Union of Hyundai Employees (UUHE) for the term of 2024-2027.
This agreement introduces a revised all-encompassing compensation package that sets a new standard in the automotive sector. The package features an unprecedented salary increment of Rs 31,000 per month, distributed over three years at rates of 55, 25, and 20 percent.
Youngmyung Park, the Function Head - People Strategy at Hyundai Motor India Limited (HMIL), remarked, “At Hyundai, our workforce is the backbone of our success. This agreement, grounded in mutual trust, respect, and constructive dialogue, embodies our shared commitment to nurturing an advanced workplace culture that emphasizes employee welfare and encourages long-term organizational growth.”
The long-term wage arrangement will commence on April 1, 2024, and conclude on March 31, 2027.
“In addition to the agreed salary increase, HMIL continues to set industry standards in employee welfare, offering top-tier health coverage and innovative wellness initiatives,” the company stated.
This announcement in India comes during a period of wage-related unrest at Hyundai's headquarters in South Korea.
Earlier this month, in the U.S., as part of President Donald Trump's efforts against illegal immigration, officials conducted a raid at a Hyundai-operated EV battery plant in Georgia.
This resulted in the arrest of approximately 475 individuals, predominantly South Korean nationals.
The UUHE, established in 2011, serves as the official representative body for HMIL employees.
UUHE's unwavering commitment to enhancing employee rights, welfare, and fostering positive relations with management is evident from the 1,981 employees it represents as of August 31, 2025, with 90 percent being technicians or laborers.
Meanwhile, Hyundai India's stock closed positively, gaining 1.82 percent or Rs 47.30 to reach 2,650.40. Over the past five sessions, the stock has increased by nearly 6 percent, and it has surged over 9 percent in a month.
Point of View
It is vital to recognize Hyundai India's proactive steps towards enhancing employee relations through this wage agreement. This move not only underscores the importance of mutual respect in corporate culture but also reflects the company's commitment to employee welfare in a challenging global context.
NationPress
20/09/2025
Frequently Asked Questions
What is the duration of the wage agreement?
The wage agreement is effective from April 1, 2024, to March 31, 2027.
What is the salary increase included in the agreement?
The agreement features a salary increment of Rs 31,000 per month.
Who represents the employees in this agreement?
The United Union of Hyundai Employees (UUHE) represents the employees.
What percentage of the salary increase is structured over three years?
The salary increase is structured in a ratio of 55%, 25%, and 20% over three years.
What are the additional benefits mentioned in the agreement?
HMIL continues to provide comprehensive health coverage and wellness programs.
