Both of Korea's big shipyards cleared a hurdle in their 2026 wage talks on the same day. On Oct. 27, HD Hyundai Heavy Industries ratified a second tentative deal after 147 days, and Hanwha Ocean reached a tentative agreement after 30 rounds of bargaining with a base-pay raise of 140,000 won.
Hanwha Ocean: +140,000 won and an 8.5 million won lump sum
Hanwha Ocean and its union branch reached a tentative agreement on Oct. 27. Base pay rises by 140,000 won, and the lump sum, a settlement payment plus a mutual-growth encouragement payment, totals 8.5 million won. It took 30 rounds of talks.
A company official said the offer combined a base-pay raise among the industry's highest with an encouragement payment meant to promote AI transformation (AX).
Welfare points, and triple the childcare support
The deal adds 1 million won a year in welfare points, partial increases in congratulatory and condolence payments, and new hiring. Support for children about to start school rises from 100,000 to 300,000 won a month.
A task force will set financial and strategic bonus criteria by year-end, and retirees can be rehired for a year as production contract staff, with a second year under review.
Briefings tomorrow, vote the day after
The branch holds delegate review and member briefings on Oct. 28 and a general meeting with the ratification vote on Oct. 29. If it passes, this year's talks are over.
Union chief Kim Yu-cheol, who has been on a high-altitude sit-in at the Geoje yard, plans to end the protest if a deal is reached.
HD Hyundai Heavy: 147 days, 55% approval
After members rejected the first tentative deal, HD Hyundai Heavy raised the share of seniority step increases and added a lump sum. 7,724 of 8,193 members voted (94.28%), and 4,253 of them (55.06%) approved.
Base pay rises 120,000 won a month, 55,000 won of it from step increases, plus an 11.5 million won lump sum, 300,000 won in welfare points and performance bonuses. Management and union put the average payout at about 41.36 million won per member.
Merger housekeeping is next
HD Hyundai Heavy will also reorganise work rules and agreements left over from the merger with HD Hyundai Mipo, adjust the retirement-pay standard and sign a special agreement on automation and digitalisation.
