"Hyundai Motor Union Demands Even Larger Performance Bonus Than Samsung Union: How Much Are They Asking For?"

Demands for the Collective Bargaining Agreement Finalized
30% of Net Profit Performance Bonuses Sought for Partner Companies
800% Bonus Payout and Full Monthly Salary System Included

The Hyundai Motor labor union has demanded that 30% of the company's net profit be paid as performance bonuses to all employees and workers at partner companies in this year's wage negotiations.

On April 16, the union held an extraordinary delegates' meeting at the Hyundai Motor Cultural Center in Buk-gu, Ulsan, and finalized its collective bargaining demands for 2026.

Hyundai Motor Group, Hyundai Motor and Kia Yangjae Headquarters.

The demands include a basic salary increase of 149,600 won (excluding step increases), payment of 30% of the previous year's net profit as performance bonuses, and the increase or introduction of various job-related allowances.

Regarding the performance bonus, the union is calling for not only Hyundai Motor employees but also workers at in-house partner companies to be included. Hyundai Motor recorded a net profit of 10.3648 trillion won last year. If the union's demands are accepted, 3.1094 trillion won would be paid out as performance bonuses.

An additional demand is to raise the bonus rate from the current 750% to 800%. This would be allocated as 50% each in monthly payments, for Lunar New Year and Chuseok holidays, and 100% during summer vacation.

The introduction of a fully fixed monthly wage system is another major demand. Currently, production workers are paid based on an hourly wage system that is converted to monthly pay. The union wants to increase the proportion of fixed wages to ensure stable income regardless of working hours.

This is seen as a proactive measure to prevent wage reductions that could arise if working hours decrease due to factory automation and the introduction of robots.

The union is also demanding an extension of the retirement age and the abolition of the wage peak system. In particular, it is insisting on raising the retirement age in line with the timing of National Pension eligibility by age group.

Other demands include reinstatement of dismissed union members to their original positions, withdrawal of claims for damages and provisional seizures, regular hiring to fill natural attrition, reduction of working hours without increasing work intensity, and elimination of discrimination against special recruits.

After sending the demands, the union plans to hold an initial meeting with management's negotiation representatives as early as the beginning of next month, kicking off full-scale bargaining.

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