Lundbeck Korea and its labor union reached a tentative deal on a new labor contract Wednesday night and averted a collective action.

Lundbeck Korea and the union made a provisional agreement on all 141 issues, according to the union. The tentative deal includes guaranteeing the union's basic activities, employment security, union’s participation in disciplinary committees, and improving unionized workers’ welfare benefits.

Since August last year, Lundbeck Korea’s management and the union had had 28 rounds of negotiations to renew the collective agreement. However, the two sides had failed to conclude negotiations even after mediation from the National Labor Relations Commission (NLRC), and union members voted in favor of going on strike on Sep. 28.

The Korea Democratic Pharmaceutical Union (KDPU), which has Lundbeck Korea branch under its wing, had planned to hold a rally ahead of a full-fledged strike on Thursday to press the management.

"By deriving a provisional agreement through negotiations, the year-long labor-management dispute has ended, laying the foundation for a cooperative labor-management relationship," the union said.

Now that the KDPU and Lundbeck Korea made a deal, the union plans to hold a vote soon to finalize the collective agreement and stabilize the labor-management relationship, it added.