Hyundai Motor Union Rejects Additional Wage Proposal... Announces Partial Strike

The Hyundai Motor Company labor union, which is facing difficulties in wage and collective agreement negotiations, has rejected the company's additional wage proposal and announced a partial strike.

On the 7th, the Hyundai Motor union held a dispute countermeasure committee meeting and announced this. The union agreed to continue negotiations until the 12th, but if no agreement is reached on wages and retirement age extension, they plan to initiate a partial strike for 4 hours each on the 13th and 14th.

On the same day, the company proposed an additional wage offer of a base pay increase of 106,000 KRW and a performance bonus of 350% plus 8.5 million KRW, but the union rejected it. The union stated that if no agreement is reached on other issues such as retirement age extension, wage performance bonuses, allowance increases, and job security, they have no choice but to opt for a strike.

Photo by Hyundai Motor Union

If the union proceeds with the strike, it will be the first in five years. Since negotiations began in June, Hyundai Motor Company and the union have failed to narrow their differences during more than 21 rounds of main negotiations.

The union is demanding a base pay increase of 184,900 KRW (excluding step increases), a performance bonus payment of 30% of last year's net profit (including stocks), a 900% bonus, increases and adjustments to various allowances, and an extension of the retirement age to 64.

Given that Hyundai Motor is achieving record-breaking performance this year, the union insists that a corresponding performance bonus should be offered. On the other hand, the company believes that extending the retirement age or offering high performance bonuses cannot be accepted considering social public opinion.

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