The automaker's union said the deal, which also has about $7,400 in incentive pay, performance-related bonuses and other benefits, was approved by 55.1 percent of the more than 42,300 voting members, South Korea's Yonhap News reported. About 4,000 other members did not vote.
The deal came after 10 walkouts of a few hours a day by union workers to press for various benefits, the news service said.
"It is fortunate that we concluded a deal without anymore disruption," a union spokesman told Yonhap by phone from Ulsan, southeast of Seoul, which is home to Hyundai's main production facility.
Yonhap quoted the company as saying the intermittent strikes prevented it from producing 50,191 units.
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