Yonhap News6 hours agoLabor1 min readSouth Korea

Hyundai Motor Union Extends Strikes Amid Wage Dispute

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Hyundai Motor's union announced extended partial strikes next week, marking the third round of walkouts this year, as wage negotiations with the company remain deadlocked.
The 40,000-member union seeks a 149,600-won monthly base pay increase and a performance bonus, while the company offers 80,000 won plus other benefits.

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Why It Matters

Hyundai Motor's union and management have held 15 rounds of wage negotiations this year without reaching an agreement, leading to ongoing partial strikes.

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SEOUL, July 24 (Yonhap) -- Hyundai Motor's union said Friday its workers will extend partial strikes next week in a bid to secure higher wages, raising concerns about production disruptions at South Korea's largest automaker.

Hyundai workers already staged partial strikes this week, with employees on the day and night shifts each walking off the job for four hours a day from Monday through Wednesday after failing to reach a wage agreement with the company, according to the union.

The union plans to stage four-hour strikes during their respective shifts from Wednesday to next Friday, marking its third round of walkouts this year.

The two sides have held 15 rounds of wage negotiations this year but have failed to narrow their differences over pay.

The 40,000-member union is demanding a 149,600-won increase in monthly base pay and a performance-based bonus equivalent to 30 percent of the company's net profit for last year.

The maker of Sonata sedans and Palisade sport utility vehicles (SUVs) posted a net profit of 10.36 trillion won (US$7.07 billion) last year.

The company, however, has offered an 80,000-won increase in monthly base pay, a performance bonus equivalent to 350 percent of monthly salary plus 10 million won and 15 shares of company stock.