Hyundai Heavy Industries Concludes 11-Year Ordinary Wage Lawsuit... Agrees to Pay 630 Billion Won

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] The Hyundai Heavy Industries lawsuit over ordinary wages, which has dragged on for 11 years, has come to an end.

On the 12th, the Hyundai Heavy Industries labor and management visited the Busan High Court and submitted a waiver of objection to the court's proposed settlement plan for the representative lawsuit on ordinary wages. It is known that the Busan High Court had previously received a similar waiver of objection from the labor union on the 11th.

The objection period for Hyundai Heavy Industries labor and management was until the 17th, but it is reported that they submitted the waiver of objection to quickly resolve the ordinary wage issue.

A Hyundai Heavy Industries official explained, "We decided to accept the court's settlement plan to promptly conclude the long-running ordinary wage lawsuit and to lay the foundation for a 100-year company based on a progressive and future-oriented labor-management relationship."

Accordingly, the company plans to pay the unpaid wages to employees and retirees starting from April. The number of recipients is about 38,000, and the total payment amount is known to be approximately 630 billion KRW.

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