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July 24, 2010 / 11:44 AM

Hyundai union approves contract

Hyundai's logo is displayed at the North American International Auto Show at the COBO Center on January 12, 2010 in Detroit, Michigan. UPI/Brian Kersey | License Photo

ULSAN, South Korea, July 24 (UPI) -- Workers at South Korea's Hyundai Motor Company voted Saturday to accept a new contract and avoid a strike, Hyundai and the union announced.

About 58 percent of the 42,286 members of the union approved the package, which included a pay raise and a bonus payment.

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South Korea's Yonhap News Agency said the new contract headed off a strike at Hyundai's main plant in Ulsan, which has been hit by strikes on virtually a yearly basis since 1987.

"The approval marks a new milestone for Hyundai's labor-management relationship," Hyundai Vice President Kang do-han told reporters.

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