Lee Dong-seock, president and CEO of Hyundai Motor, urged the union, which has been on a partial strike for three consecutive days, to resume negotiations, stating, "Let's move towards coexistence rather than mutual destruction, and companionship rather than disruption."
On the 5th, President Lee noted in a statement, "Despite the company's decisive proposal on key issues like wages and bonuses, it is deeply regrettable that the union ultimately chose the path of a strike. If the proposal was lacking, finding a consensus through additional negotiations reflects the appropriate stance for a labor-management relationship that has lasted 38 years."
President Lee stated, "Currently, our labor and management are at a crossroads of choosing whether to face irreversible damage or to overcome the crisis and create a shining tomorrow again, and I urge wise decisions so Hyundai Motor can continue to thrive in the future rather than being caught up in immediate profit and security."
Hyundai Motor's union went on a partial strike for four hours on this day, following two hours on the 3rd and 4th. A cultural event is also scheduled to be held in front of the main building at the Ulsan factory around 7:50 p.m. The labor and management have held negotiations 20 times so far, but they remain at an impasse over wage increases and retirement age extension.
On the 2nd, the company proposed an increase in the base salary by 95,000 won, a performance bonus of 400% plus 14 million won, 30 shares of stock, and 200,000 won in traditional market gift certificates. However, the union rejected this and went on strike. The union is demanding an increase in the base salary of 141,300 won (excluding the seniority increase), a performance bonus of 30% of last year's net profit, an extension of the retirement age, and the implementation of a 4.5-day workweek.
The main negotiations have not yet scheduled further meetings since the 2nd, and with significant differences in positions on major issues, the possibility of additional strikes by the union is being raised. The labor and management are expected to decide on whether to resume the main negotiations and the timing of resumption through practical negotiations this weekend.
The HD Hyundai Heavy Industries union, which joined the simultaneous strike with Hyundai Motor for the first time in about nine years, continued a partial strike for seven hours following the previous day. The HD Hyundai Heavy Industries union held a meeting of the central response committee that day and decided to carry out another seven-hour strike on the 9th to 12th. They are demanding wage increases and opposing the merger with HD Hyundai Mipo for entry into the U.S. market.