Hyundai Union Back in Wage Talks After Rare Full-Day Strike
Around 40,000 workers walked off the job as the union pressed for higher pay, bigger bonuses and a later retirement age, officials said.
- On Monday, the Korean Metal Workers Union resumed wage talks with Hyundai Motor management after staging its first full-day strike in a decade on Friday.
- Friday's walkout saw around 40,000 employees leave their posts at the country's largest carmaker after discussions over pay and retirement benefits broke down.
- Workers have staged 60 hours of strikes this year, causing estimated losses of around $1.6 billion per Newsis, while demanding a 149,000 won monthly salary increase and 50% bonus hike.
- Hyundai Motor told AFP it could not "accept the union's demands" without solid legal or rational basis; representatives will decide on a Tuesday partial strike depending on today's outcome.
- These labor tensions occur amid concerns over job security as artificial intelligence transforms the Asian automotive industry, while Hyundai posted record second-quarter revenue of 49.2 trillion won despite a 20.8% operating profit decline.
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Hyundai workers, concerned about their job security, have gone on strike for a total of 60 hours this year, which is estimated to have cost the company 1.37 billion euros. The post South Korea: Hyundai workers' union resumes negotiations after rare 24-hour strike appeared first on in.gr.
Hyundai union back in wage talks after rare full-day strike
The action at the country's largest carmaker on Friday saw around 40,000 employees walk off the job, according to union figures, after discussions over pay and retirement broke down. They have come against a backdrop of concerns over job security as artificial intelligence transforms South Korea's automotive industry, a pillar of the Asian nation's economy. A union representative confirmed to AFP on Monday that talks with management would restar…
The Hyundai Motor Company labor union (Hyundai Motor Group of the Korean Metal Workers' Union) has postponed the strike scheduled for the 24th following the resumption of negotiations for this year's wages. Hyundai Motor management and the union announced on the 23rd that they will hold the 17th round of negotiations at the Ulsan plant on the 24th. The union decided not to proceed with the strike on the 24th, out of the four-hour partial strikes…
(Ulsan = Yonhap News) Reporter Kim Geun-ju = The Hyundai Motor Company labor union (Hyundai Motor Company branch of the Korean Metal Workers' Union) has postponed the strike scheduled for the 24th due to the resumption of wage negotiations this year.
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