By Sharmistha Mukherjee

Copyright indiatimes

Korean automaker Hyundai Motor India Wednesday said it has reached a three year wage agreement with workers at its manufacturing facility near Chennai, Tamil Nadu. The package – which will be effective from April 1, 2024 through March 31, 2027 – includes an industry-best salary increase of Rs 31,000 per month, structured in the ratio of 55%, 25%, and 20% over the three-year period. In addition to the salary increase agreed between the company and the union, the company will health coverage and advanced wellness programs.“Hyundai Motor India Limited [HMIL] and United Union of Hyundai Employees [UUHE], the recognized union today announced the successful conclusion and signing of a mutually beneficial wage settlement agreement for the period 2024–2027”, the company said in a statement, adding, “The revised all-inclusive compensation package sets a new benchmark in the automotive industry.”Youngmyung Park, Function Head – People Strategy, HMIL, said, “This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritizes employee welfare and supports long-term organizational growth.” Registered in 2011, the United Union of Hyundai Employees [UUHE] is the officially recognized representative body for the workforce of Hyundai Motor India Limited [HMIL]. As of August 31, 2025, UUHE represents a membership of 1,981 employees (90% of technician/workmen cadre), advocating for employee welfare, rights, and constructive engagement with management.Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)

Read More News onhyundai motor indiaChennai automotive industryemployee welfare Hyundai MotorUnited Union of Hyundai Employeeswage settlement agreementautomotive industry salary benchmarkemployee salary increase Hyundai

(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

(You can now subscribe to our Economic Times WhatsApp channel)Read More News onhyundai motor indiaChennai automotive industryemployee welfare Hyundai MotorUnited Union of Hyundai Employeeswage settlement agreementautomotive industry salary benchmarkemployee salary increase Hyundai(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless