This Time, Hyundai Motor Union Becomes a Rock... 'Gwangju-type Job' Faces More Complications Again

[Asia Economy Reporter Kiho Sung] The Gwangju-type job project, which seemed to be sailing smoothly, is once again stumbling upon obstacles. This is because the labor union of Hyundai Motor Company, a major investor in the project, declared an all-out struggle, stating that "investing in the Gwangju-type job project could lead the company to bankruptcy." Additionally, shareholders of Gwangju Global Motors (GGM) have attached conditions such as the 'commitment to comply with the labor-management mutual growth agreement' and 'exclusion of external institutions' management interference,' which has sparked opposition from civic groups.

On the 12th, the Hyundai Motor labor union issued a statement demanding "to abandon the Gwangju-type job project that is bound to fail." The union warned, "With overseas factories shutting down one after another due to the novel coronavirus (COVID-19) and several credit rating agencies mentioning Hyundai Motor's liquidity crisis, proceeding with an uncertain investment is a dangerous idea," urging "Hyundai Motor to completely withdraw from the Gwangju-type job project, which can never succeed, before suffering greater damage." Furthermore, the union warned, "If management insists on investing equity in the Gwangju-type job project, the Hyundai Motor labor union will launch an all-out struggle linked to the 2020 wage negotiations."

There is also a significant difference in stance between GGM and civic groups regarding the exclusion of external institutions' management interference. On the 7th, GGM requested compliance with the agreement made with the labor sector and the exclusion of external institutions' management interference through its shareholders' meeting.

In response, the 'Citizen Group for the Success of the Gwangju-type Job Project Respecting Labor and Social Solidarity (Preparatory Group),' composed of civic organizations in the Gwangju area such as the Gwangju Economic Justice Practice Citizens' Coalition, expressed serious concerns, stating, "The recent GGM shareholders' resolution solidified the principle and criteria of exclusion by treating Gwangju City and the local community as outsiders." They criticized, "GGM cannot be the Gwangju-type job project, and it should neither receive nor request further public funds, tax reduction benefits, or various forms of support from the government and Gwangju City."

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