Seoul: The labor union of Hyundai Motor Co. announced on Tuesday its plan to stage partial strikes throughout this week after failing to reach a consensus with management over wage negotiations. The union's decision marks a continuation of labor unrest at the South Korean automaker.
According to Yonhap News Agency, the union has scheduled four-hour strikes for Wednesday and Thursday, with a more extended eight-hour strike set for Friday. Further action is anticipated next week, with four-hour strikes planned for both Monday and Tuesday. These strikes are part of a broader series of actions the union has undertaken, totaling 44 hours of partial strikes since wage discussions began.
The recent escalation follows the 16th round of negotiations between management and the union, where both parties failed to reconcile their differences over wages. The union, representing 40,000 members, is demanding a 149,600-won (approximately US$105.6) increase in monthly base pay, along with a performance-based bonus amounting to 30 percent of Hyundai's net profit from the previous year.
In contrast, Hyundai Motor Co. has proposed an 80,000-won increase in monthly base pay, a performance bonus equivalent to 350 percent of the monthly salary, an additional 10 million won, and 15 shares of company stock. Despite these offers, an agreement has yet to be reached, prompting the union to proceed with its strike plan.