Renault Samsung Motors Co., the local unit of French automaker Renault S.A., said Wednesday that it has reached a tentative agreement on this year's pay increase, pending a local court's decision on a sticky labor-management issue on ordinary wages.
The agreement marks the third time this year that a South Korean original equipment car manufacturer reached an understanding on wage and collective bargaining agreement (CBA) negotiations. The pact is still subject to a vote by all workers on Friday.