The labor union and management of Hyundai Motor have produced a draft agreement on creating a new plant in Gwangju City that will create up to 12-thousand jobs.

The two sides produced the draft during a job security committee meeting on Thursday afternoon at Hyundai's Ulsan plant in Gyeongsang Province. 

The labor union, which has strongly opposed the so-called Gwangju Job Project, said it produced the draft to establish minimum measures to ensure the new plant will not affect the job security of union members. 

The union will decide on whether to agree to the project after collecting the opinions of its members for a couple of weeks. 

In January, the Gwangju city government and Hyundai Motor signed an agreement to build a new plant in the city, under which employees will get half the wages paid to current autoworkers. However, union members of Hyundai Motor strongly protested the project, saying it will force workers to make sacrifices with low-wage jobs.