Korean Air workers reach wage deal with management
[THE INVESTOR] Unionized workers at Korean Air Lines will allow the company to decide on the wage increase for 2017, the airline said May 19.
“We have delegated authority to the company for this year’s wage negotiations not only for the company’s sustainable growth and survival but also for the job security of workers,” union leader Lee Jong-ho said in a statement.
The decision comes after the union agreed on a 3.2-percent pay raise for the year of 2016 on May 17 after 14 rounds of negotiations with the management since April of last year.
The union workers will receive a one-time, retroactive pay increase later this month under the agreement, a Korean Air spokesman said.
By Alex Lee and newswires (firstname.lastname@example.org)