Seoul, Jun 28 (IANS): Hyundai Motor and its labour union on Friday reached an agreement to hire 1,100 new manufacturing workers by 2026.

The agreement was reached in the tenth round of negotiations related to wages and working conditions held at the company's plant in Ulsan, 299 kms southeast of Seoul, reports Yonhap News Agency.

The two sides had previously agreed to hire 300 new production workers next year.

On Friday, they agreed to increase the company's plant workforce by an additional 500 workers next year and by 300 in 2026.

The union has been demanding an increase in hiring, considering how around 2,000 production workers retire each year, and to prepare for the company's launch of a new electric car factory in Ulsan in 2025.

The latest round of talks came after nearly 90 per cent of unionised workers earlier this week voted in favour of a walkout following a collapse in the annual wage negotiations.

The union has yet to decide whether to actually carry out the strike.

If executed, the walkout would be the first for the company in six years.

Hyundai Motor's union has not carried out a strike in the past five years, taking into consideration various factors, such as the Covid-19 pandemic and national trade issues.