Hankook Tire Magyarorszag raises wages 8%

Korean-owned Hankook Tire Magyarország is raising wages at its manufacturing base south of Budapest by 8% on average, well over the 4-6% recommendation by the National Interest Conciliation Council (OÉT), the company told MTI on Tuesday.

The raise tracks inflation and compensates workers who are worse off because of tax changes introduced from the start of the year, Hankook Tire Magyarország said. The Chemical Industry Workers Union (VDSZ) said earlier that the tax changes would negatively affect 1,700 of the company's 1,800 workers. In addition to the wage rise, to be paid retroactively from January, Hankook has added another HUF 20,000 a year to workers' non-wage compensation, the company said.

"Hankook Tire Magyarország makes every effort in the interest of ensuring good working conditions for its workers," the company said. Hankook provides warm meals, free transportation to and from work and support for lodging to its workers, it added.