Hyundai Motor union to stage partial strikes amid wage dispute
Labor union announces walkouts throughout the week after 16th round of wage negotiations fails
Quick Look
Hyundai Motor Co.'s labor union announced partial strikes for the rest of the week following the breakdown of wage negotiations with management after 16 rounds of talks.
AI-generated summary
Why It Matters
Management and the union have held 16 rounds of negotiations over wages without reaching an agreement.
SEOUL, Aug. 18 (Yonhap) -- The labor union of Hyundai Motor Co. said Tuesday it will stage partial strikes throughout this week after failing to reach an agreement with management over wages.
The automaker's union said it decided to stage four-hour strikes on Wednesday and Thursday and an eight-hour strike on Friday.
The union also said it will launch four-hour partial strikes on Monday and Tuesday as well next week.
So far, the union has staged a combined 44 hours of partial strikes since it started wage talks with the management.
The latest walkout comes after management and the union failed to narrow their differences over wages. The two sides last held their 16th round of negotiations earlier in the day.
The 40,000-member union is demanding a 149,600-won (US$105.6) increase in monthly base pay and a performance-based bonus equivalent to 30 percent of the company's net profit for 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, as well as 15 shares of company stock.
What to Watch
AI outlook — possibilities, not facts
Union to stage four-hour strikes on Wednesday and Thursday and an eight-hour strike on Friday
Very likely · Within days
Open Questions
- Will management improve their current wage offer?
- How much will vehicle production be impacted by the strikes?
