Hyundai Mipo Dockyard Union May Go on Strike... Declares Suspension of Wage and Collective Bargaining Negotiations

The labor unions of the three shipbuilding companies under Hyundai Heavy Industries Group (Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Samho Heavy Industries) held a rally on the 18th in front of the Hyundai headquarters building in Gyedong, Seoul, demanding joint negotiations with management for this year's wages and collective agreements.
[Image source=Yonhap News]

[Asia Economy Reporter Jeong Dong-hoon] The Hyundai Mipo Dockyard labor union appears to be entering the preparation phase for industrial action (strike).

According to the Hyundai Mipo Dockyard union on the 18th, the union stated in a newsletter released the previous day that it has suspended wage and collective bargaining negotiations because "the management has not presented any meaningful solutions regarding last year's wage issues, making this year's negotiations pointless."

The union will conduct a strike vote from the 24th to the 26th. On the 14th, it held an extraordinary delegates' meeting and unanimously resolved to initiate industrial action, and on the 17th, it filed a dispute mediation request with the Ulsan Regional Labor Relations Commission.

If the Labor Relations Commission decides to suspend mediation and the strike vote passes, the union will be able to legally strike. Since the initial meeting on July 27, the labor and management sides have held 15 rounds of negotiations but have failed to narrow their differences.

The union has demanded from management a wage increase of 142,300 KRW (6.88% compared to the base salary, excluding step increases), a guaranteed minimum performance bonus of 250%+α, abolition of the wage peak system, new hires and employee stock ownership plan issuance (50 shares free of charge + interest support for purchasing 50 shares), and job security.

Earlier, the Hyundai Heavy Industries union also applied for suspension of mediation at the Central Labor Relations Commission and will hold a strike vote on the same day as the Hyundai Mipo Dockyard union.

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