韩国通用将从明年起正式实施退休人员返聘制度

GM Korea will officially implement a rehiring system for retirees starting next year. Following Hyundai Motor (005380.KS) and Kia (000270.KS), GM Korea's adoption of a post-retirement rehiring system means all five of Korea's automakers now have systems in place to utilize skilled workers.
According to the industry on the 29th, GM Korea's labor and management agreed to officially adopt a contract-based rehiring system through the final wage and collective bargaining agreement reached the previous day. GM Korea has been running the rehiring system on a trial basis this year and decided to formally implement it starting next year.
The eligible employees are skilled workers reaching retirement age, who will be newly hired as fixed-term workers after retirement. An initial six-month contract will be signed, and if the worker wishes, the contract can be renewed once. This means workers can continue for an additional year after retirement. Compensation was set at the level of a starting salary for a new production-line employee.
With GM Korea's decision, all of Korea's automakers now operate post-retirement rehiring systems. Renault Korea, since its founding in 2000, has included a provision in its collective agreement allowing retirees to continue working on a contract basis.
Hyundai Motor and Kia have operated a rehiring system since 2019 that allows retirees in technical and maintenance positions, including at research centers, to work for one more year. In 2024, they extended the rehiring period from one year to two years. Notably, KG Mobility (003620.KS) has been applying its rehiring system since last year, enhancing employment stability by allowing workers to be employed as regular full-time staff rather than as contract workers.
The rapid establishment of post-retirement rehiring systems in the auto industry stems from the significant potential to utilize retirees' expertise. Even if production-line hiring is done in a timely manner, considerable time is needed to develop skill proficiency. The importance of experienced technical personnel has also grown amid the shift to electrification and changes in production methods.
Meanwhile, GM Korea's labor and management concluded the negotiations with a 56.5% approval rate in a union member vote on the tentative wage and collective bargaining agreement held the previous day. The tentative agreement included a monthly base pay increase of 92,000 won, a performance bonus payment of 15 million won, and the finalization of a plan to assign new vehicle models by the third quarter of next year.