Aug. 11 (Bloomberg) -- Labor union officials for workers at Kia Motors Corp., South Korea’s second-biggest carmaker, said they hope to hammer out a wage agreement with management as early as today.
Union officials and company representatives of Seoul-based Kia will meet at 3 p.m. in an effort to reach a new agreement covering wages for 2011 after a majority of employees rejected a pact proposed two weeks ago, according to a statement on the website of the union for Kia workers.
Michael Choo, a spokesman for Kia, declined to comment.
Kia Motors shares rose 0.3 percent to 70,200 won as of 2:35 p.m. in Seoul, compared with a 0.5 percent gain in the benchmark Kospi index.
To contact the reporter on this story: Rose Kim in Seoul at Rkim69@bloomberg.net
To contact the editor responsible for this story: Brett Miller at Bmiller30@bloomberg.net