Hyundai Motor Union "Will Fight Vigorously if Invested in Gwangju-type Jobs"

Hyundai Kia Motors Yangjae-dong Headquarters.

[Asia Economy Reporter Kiho Sung] The Hyundai Motor labor union has expressed regret over the Korean Federation of Trade Unions' return to the Gwangju-type job project. They added, "We cannot let Hyundai Motor fail," and warned that if the management proceeds with the investment, they will launch an all-out struggle.

On the 12th, the Hyundai Motor union stated in a press release, "Abandon the Gwangju-type job project that is bound to fail."

The union first criticized the Korean Federation of Trade Unions' declaration to return to discussions on the Gwangju-type job project, saying, "We cannot help but express deep regret." The Hyundai Motor union is affiliated with the Federation of Korean Trade Unions.

Previously, on the 1st of last month, the Korean Federation of Trade Unions declared the termination of the Gwangju-type job agreement and announced their withdrawal. However, after adopting an agreement with Gwangju Metropolitan City and Gwangju Global Motors to ensure the success of the Gwangju-type job complete car factory, they returned after about a month.

The Hyundai Motor union stated regarding the Gwangju-type job project, "In a situation where the future of the automobile industry is as dark and uncertain as night, the Gwangju-type job project, which is being unilaterally pushed forward excluding the key stakeholder, the Hyundai Motor union, is clearly opposed," and emphasized, "Behind the hopeful message that 12,000 jobs will be created, the Gwangju-type job project, which is being forced ahead without thoroughly examining the aftereffects that will cause repercussions later, must be stopped."

They further warned that the Gwangju-type job project will bring repercussions due to oversupply in the domestic compact car market, stating, "There will be a nationwide decrease in jobs and a storm of restructuring." The union also said, "Due to the characteristics of the domestic automobile industry, the Gwangju-type job policy will cause cutthroat competition and self-destructive competition, potentially leading to the total destruction of the entire automobile industry," and clearly demanded, "An objective and fair diagnosis must be conducted to reconsider the validity of constructing the Gwangju-type job factory from the ground up."

Regarding the management, the Hyundai Motor union warned, "With overseas factories shutting down one after another due to the novel coronavirus disease (COVID-19) and several credit rating agencies mentioning Hyundai Motor's liquidity crisis, proceeding with uncertain investments is a dangerous idea," and urged, "Hyundai Motor must completely withdraw from the Gwangju-type job project, which cannot succeed, before suffering greater damage."

They added, "If the management pushes forward with equity investment in the Gwangju-type job project, the Hyundai Motor union will launch an all-out struggle linked to the 2020 wage negotiations."

This content was produced with the assistance of AI translation services.