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KORAIL, Unionized Workers Reach Collective Agreement, Ending Weeklong Strike

Written: 2024-12-11 18:09:45Updated: 2024-12-11 18:39:03

KORAIL, Unionized Workers Reach Collective Agreement, Ending Weeklong Strike

Photo : YONHAP News

The Korea Railroad Corporation(KORAIL) and the Korean Railway Workers’ Union have reached a collective agreement, ending a weeklong general strike.

According to both sides on Wednesday, a provisional deal was reached after they wrapped up negotiations at around 3:35 p.m.

The unionized workers, who launched the strike Thursday, are expected to return to work starting at 7 p.m.

The two sides reportedly agreed to freeze executive wages for two years and have the executives return this year’s increase to fund a wage hike for the union’s members.

A union representative said the two sides also settled their differences on wages.

The workers had demanded a two-point-five-percent hike, as well as payment of overdue wages and increased hiring to address labor shortages.

The provisional deal is set to be finalized after a vote by union members.

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