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Kia Motors says expects to pay about 1 trln won due to wage ruling
August 31, 2017 / 6:02 AM / 2 months ago

Kia Motors says expects to pay about 1 trln won due to wage ruling

SEOUL, Aug 31 (Reuters) - South Korea’s Kia Motors said on Thursday it expected to pay about 1 trillion won ($887.11 million) in back-pay to its workers after it lost a wage dispute in court, and the impact would be reflected in its third-quarter results.

The Seoul Central District Court earlier on Thursday ordered the automaker to make up about 420 billion won in unpaid wages, but Kia said in a regulatory filing the total cost would be more like 1 trillion won once all wages were adjusted. ($1 = 1,127.2500 won) (Reporting by Joyce Lee; Editing by Stephen Coates)

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