(Seoul=NSP News Agency) YEON SUN HAN Journalist = Ssangyong Motors has opened a new era in the automobile industry labor relations by settling no-strike agreements for 8 consecutive years since 2010.

Ssangyong Motors have finalized the 2017 wage negotiations in the earliest manner among local motor industries following last year as the agreement was passed with 67% of approval rate in the vote among labor unions about the tentative agreement on 26th of last month.

Wage negotiations, which began in June following first meeting, were finalized as the tentative agreement induced at 16th round of negotiations was passed with 67% (2,213) approval rate out of voting union members (3,295).

The main content of the agreement is the base pay raise of 53,000 won. In addition, production subsidies of 2.5 million won, and contribution of 1 million won(worth 150 stocks) to employee's stock ownership association were included in separate agreement.