The development will allow Hyundai Motor to get back on its feet after a sales slump in 2017.
On Tuesday, Hyundai Motor Co’s labor union disclosed that its members have agreed to a tentative deal in wages with its management.
With members of its labor union rejecting a tentative deal in late December, the terms of wages for its labor were renegotiated.
The new agreement will allow Hyundai to focus on improving its sales following a slump in 2017 when China used indirect unofficial pressures to push down its sales when Seoul allowed U.S. anti-missiles defense system to be deployed in the country over nuclear missiles threats from North Korea.
Hyundai Motor Co stated that 61.1% of voters had approved the deal whereas 38.4% rejected it. The balance votes were invalid.
Hyundai did not have an immediate comment.