Hyundai Motor and its labor union have reached a tentative agreement regarding wages and bonuses, marking a significant development following a period of labor unrest. The agreement was announced on Tuesday, shortly after the union engaged in a full-day strike that halted production at the automaker’s South Korean facilities.

According to union figures, approximately 40,000 of the company’s 73,000 domestic employees participated in the walkout last Friday. This event was notable as it represented the first full-day strike at the company in ten years. Following the action, the union announced on Monday that it had returned to the negotiating table with management and had decided to postpone additional, shorter strikes that had been previously scheduled.

While the specific details of the wage and bonus increases have not been fully disclosed, the tentative deal suggests a resolution to the immediate conflict. The company and union representatives confirmed the progress on Tuesday, signaling a shift away from the confrontational tactics seen late last week. The agreement is expected to be put to a vote by the union membership, though the timeline for ratification remains to be seen.