Automobile Industry Association "Actively Welcomes No-Strike Wage Negotiations in the Complete Vehicle Sector"

[Asia Economy Reporter Changhwan Lee] The Korea Automobile Manufacturers Association (KAMA) announced on the 4th that it actively welcomes the fact that the domestic complete car industry has concluded this year's wage and labor negotiations without strikes, with Renault Samsung Motors being the last.

KAMA assessed that our automobile industry is currently facing the challenge of transitioning to the era of electric vehicles and autonomous vehicles while responding to short-term issues such as semiconductor supply instability and demand contraction caused by COVID-19.

It evaluated that the fact that all five automobile companies reached wage and labor negotiation agreements without strikes through dialogue and compromise, as awareness of these circumstances was shared and spread between labor and management, is a groundbreaking event opening a new horizon in labor-management relations.

In particular, Hyundai Motor is accumulating experience of strike-free settlements for three consecutive years, and Kia and Korea GM have each achieved strike-free settlements for the first time in 11 years and 3 years respectively, gaining new experience that settlements are possible without strikes.

Renault Samsung also added that by jointly adhering to the principle of no work, no pay and preparing a two-year integrated agreement, labor-management conflicts could lead to enhanced competitiveness, producing good results.

Jung Manki, Chairman of KAMA, said, "Considering the current era's challenges of carbon neutrality and autonomous driving and the changing conditions such as the rise of China, management, workers, and shareholders must become one team and engage in an active cooperation game to enhance competitiveness," adding, "The successful conclusion of labor-management negotiations by these complete car manufacturers is very meaningful in this regard."

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