SEOUL -- A month-long strike at Hyundai Motor Co. ended Friday, July 28, after workers voted to accept a 5.1 percent pay increase.
Unionized workers had been holding partial walkouts since June 26, hobbling production at South Korea's largest automaker. They had been demanding a 9.1 percent increase, but voted to accept the company's offer late Friday.
American dealers were well stocked before the strike, however, and inventories are healthy.
The strike has cost Hyundai $1.4 billion in lost production. Exports were suspended, with the company's inventory exhausted.
Hyundai spokesman Oles Gadacz said he expected exports to resume in the second week of August, immediately after the company's annual week-long summer production shutdown in the first week of the month.
Hyundai's union, known locally as the aristocracy of labor, has struck every year but one since its formation in 1987, the year South Korea achieved democracy. Stock analysts discount the company due to labor risk.
A partial walkout at Hyundai affiliate Kia Motors Corp., however, continues.