Hyundai Motor India Limited (HMIL) and the United Union of Hyundai Employees (UUHE) signed a long-term wage settlement agreement today covering the period 2024-2027, with the deal effective from April 1, 2024, through March 31, 2027.
The settlement includes a monthly salary increase of INR 31,000 per employee, distributed over three years in a 55%, 25%, and 20% ratio. The agreement covers compensation and employee welfare benefits for the automotive manufacturer's workforce.
The United Union of Hyundai Employees represents 1,981 employees as of August 31, 2025, comprising 90% of the technician and workmen cadre at HMIL. The union was registered in 2011 and serves as the officially recognized representative body for the company's workforce.
"At Hyundai, our people are the cornerstone of our success. This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritizes employee welfare and supports long-term organizational growth," stated Youngmyung Park, Function Head - People Strategy, HMIL.
HMIL announced the settlement to stock exchanges NSE and BSE through a regulatory filing. The company operates from its registered office in Tamil Nadu's Sriperumbudur and maintains its corporate office in Gurugram, Haryana.