Hyundai Motor Union Discusses Wage and Collective Bargaining Demands... Also Reviews Office Workers' Treatment Improvements

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] The Hyundai Motor labor union has begun discussions to finalize this year's wage and collective bargaining demands. This year, job preservation and improvements in treatment for office workers following the launch of the office workers' union are also included as topics for discussion.

On the 12th, the Hyundai Motor union held the 40th extraordinary delegates meeting at the Hyundai Motor Culture Hall in Buk-gu, Ulsan City, and started discussions on this year's wage and collective bargaining demands.

According to industry sources, the Hyundai Motor union is expected to first demand a common wage increase of 99,000 KRW (excluding regular and seniority-based raises), as proposed by the upper-level organization, the Korean Metal Workers' Union. Additionally, they are anticipated to request a performance bonus amounting to 30% of last year's net profit separately.

This year's wage and collective bargaining negotiations are also expected to focus on the issue of job preservation. The union insists that when developing and producing eco-friendly vehicles or next-generation models and related parts, priority should be given to domestic factories. This reflects concerns that the expansion of electric-powered vehicle production, which requires fewer parts compared to internal combustion engine vehicles, could lead to job reductions.

Furthermore, during this round of negotiations, the union is reportedly planning to demand a "Future Agreement on Industrial Transition," which includes provisions for joint efforts by labor and management to maintain jobs.

The union also plans to consider improving the treatment of research and general office workers, seemingly in response to the recently formed office workers' union. Although the office and research workers' union, mainly composed of the so-called MZ generation (Millennials and Generation Z born between the 1980s and 2000s), cannot directly participate in this year's negotiations, it is difficult to ignore their social influence.

In addition, the union is expected to review changing the current retirement age of 60 to the year before the start of old-age pension receipt, in accordance with the National Pension Act.

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