SEOUL (Reuters) -Hyundai Motor Co ( HYMTF ) reached a tentative wage agreement with its South Korean labour union on Monday, a union official said, potentially avoiding a strike and production losses in South Korea, the carmaker's biggest manufacturing base.

The tentative agreement was reached after the South Korean automaker and its union at home held rounds of negotiations for 46 days.

Under the agreement reached on Monday, Hyundai will increase workers' basic monthly salary by 111,200 won ($80.46), give each worker a bonus and incentives, according to Hyundai.

The union, one of the biggest in the country with more than 43,000 members, said the tentative deal is subject to a vote by union members later this week.

Hyundai Motor ( HYMTF ) workers in South Korea last went on strike in 2018.

($1 = 1,382.1100 won)