Hyundai Steel and unions at four subsidiaries signed a principal-subcontractor collective agreement on Thursday, marking the first negotiated settlement of its kind since the revised Trade Union and Labor Relations Adjustment Act, commonly called the Yellow Envelope Act, took effect on March 10. The deal involves Hyundai ITC, Hyundai IEC, Hyundai IMC and Hyundai ISC and commits the companies and unions to improve occupational safety and health systems and draw up a longer-term roadmap.

The Labor Relations Commission had previously separated bargaining units on April 16 and June 24, after which Hyundai Steel began talks with the four subsidiary