HD Hyundai Heavy reaches tentative wage deal to steady docks in Ulsan
A 120,000-won base raise and an 11.5 million-won bonus ended a five-day crane protest on Oct. 23, clearing dock schedules before an Oct. 26 union ratification vote.
HLBy Hyun-jung Lee, Korea correspondent, shipbuilding and defense··Updated October 23, 2026·4 min read
ShareLinkedInXWhatsAppEmailA laborer works on a vessel under construction as large cranes and ships fill an HD Hyundai Heavy Industries shipyard. (AI-generated image)
HD Hyundai Heavy Industries and its labor union reached a second tentative collective bargaining agreement on Oct. 23, 2026, halting partial walkouts at the world's largest shipyard.
The contract provides a monthly basic pay increase of 120,000 won ($89), which includes a 55,000-won seniority increment. It also pays a lump-sum bonus of 11.5 million won ($8,530) plus 200% of contractual wages, company representatives said.
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Korea correspondent, shipbuilding and defense — Hyun-jung Lee reports on Korean yards, order books and naval programs, and on the defense export contracts that increasingly sit alongside them.
