Seoul: The management and union of GM Korea Co., the South Korean unit of General Motors Co., reached a tentative agreement on this year's wage negotiations after 17 rounds of talks, the union announced on Wednesday. This development arrives amid a backdrop of recent labor actions, including a four-hour walkout across all shifts on Tuesday and a two-day partial strike last week, as discussions had previously stalled.

According to Yonhap News Agency, the agreement stipulates a 92,000 won (US$62.16) monthly base wage increase and a comprehensive bonus package amounting to 15 million won for each worker. Additionally, GM Korea has committed to working toward finalizing a plan to assign new vehicle models to its South Korean plants by the third quarter of the next year.

The tentative agreement will now be subjected to a two-day voting process by the union members starting Monday. The outcome of the vote will determine the acceptance and implementation of the proposed terms, marking a potential end to the ongoing wage negotiation dispute.