The Hyundai Motor labor union (Metal Workers' Union Hyundai Motor Branch) will begin a partial strike for three days starting on the 3rd.
On the 2nd, the Hyundai Motor union held a Central Negotiation Countermeasure Committee meeting and noted that this decision was made due to difficulties in this year's wage and collective bargaining negotiations. The morning shift and afternoon shift will strike for two hours on the 3rd and 4th, and for four hours on the 5th. Whether it is a partial or full strike, it has been seven years since the Hyundai Motor union has gone on strike.
Considering factors such as the COVID-19 pandemic and the economic conflict between Korea and Japan due to Japan's removal from the white list (export preferential countries), the management and labor union have completed collective bargaining without a strike for six consecutive years up until last year. This year, the parties have negotiated 20 times since the initial meeting on June 18 but have not achieved any significant results.
During the negotiations held on the 2nd, the management proposed a second offer, including a monthly base salary increase of 95,000 won, a performance bonus of 400% plus 14 million won, a traditional market gift certificate of 200,000 won, 30 shares of stock, and the expansion of regular wages to include some allowances. However, the union judged it insufficient to meet member expectations and rejected the proposal.
Earlier, the union demanded a 141,300 won increase in the base salary (excluding incremental salary increases), payment of 30% of last year's net profit as performance pay, an extension of retirement age to 64 at most, the introduction of a 4.5-day work week, and an increase in bonuses. The union has set a strike schedule but will continue negotiations with the company. Hyundai Motor stated, "It is regrettable that the union decided on a strike despite the lack of substantial discussions on the negotiation agenda," adding, "We will do our best to avoid unnecessary attrition and reach a reasonable outcome where both labor and management can coexist."