Hyundai Motors plans to hire 1,100 production workers by 2026. This move comes as part of an agreement between Hyundai and its labor union to create new jobs and address youth unemployment in South Korea.
Under a preliminary wage negotiation agreement between Hyundai and its union on the 10th, both parties agreed to hire 500 technical staff next year and an additional 300 by 2026 to boost domestic employment. Adding to the 300 people that the union had previously agreed to hire next year, the total number of production workers to be hired from 2025 until 2026 will be 1,100.
Hyundai’s production jobs are known for its superb compensation and benefits package compared to other domestic corporations. The average annual salary is known to be around KRW 100 million (approximately $85,000), with benefits such as guaranteed retirement at the age of 60 and up to 30% off on new car purchases.
Last March, Hyundai attracted high interest when it publicly recruited new production employees for the first time in a decade. The recruitment website crashed after opening due to the sheer number of applicants, with up to 180,000 applicants applying for just 400 positions.
Hyundai and its labor union have agreed to extend the contract period for rehiring skilled production workers from one year to two. This means that after retiring at the age of 60, they can continue to work as contract employees for another two years, extending the retirement age to 62.
This decision is seen as a consideration of the labor union’s strong demand for an extension of the retirement age. The union had previously requested an extension to the age of 64, as nearly half of its members are over 50, with more than 2,000 members retiring each year.
