Hyundai Motor Securities has reached an agreement with its labour union by finalising a 2026 wage deal.

Hyundai Motor Securities said on Sept. 18 it held a signing ceremony for the 2026 wage agreement on Sept. 16 at its headquarters in Seoul's Yeouido, attended by Bae Hyung-geun, president of Hyundai Motor Securities, Lee Jae-jin, chair of the Korea Office Finance Service Workers' Union, and other labour and management officials.

Under the agreement, Hyundai Motor Securities employees' annual pay will rise by an average 2.5 percent based on the total wage bill. The company also decided to grant 500 shares of its own stock.

The company also made system improvements aimed at expanding effective compensation and boosting job satisfaction. It raised the total payout rate over the five-year application period of its pay-peak system by 10 percent to 350 percent from 340 percent, which is the highest level among securities firms that have introduced the pay-peak system.

It also decided to cut monthly fixed overtime hours to 15 from 20. In addition, labour and management agreed to implement within the year a joint social contribution programme under which up to 10 million won will be donated to fulfil corporate social responsibility.

Hyundai Motor Securities and its union previously reached a tentative agreement on a wage deal on Aug. 26. In a union vote held on Sept. 2, 88 percent of union members participated, and the tentative agreement was approved with a 95.3 percent approval rate.

A Hyundai Motor Securities official said the agreement was reached smoothly as both sides negotiated based on mutual trust and respect. The official added the company would continue to cooperate so the firm and employees can grow together.