Hyundai Motor labor and management on the 6th began a kickoff meeting for this year's wage talks. The labor union is said to have included in its demands a base-pay increase along with performance bonuses and job security in connection with the introduction of artificial intelligence (AI).
Hyundai Motor labor and management said they held a kickoff meeting for this year's wage negotiations at the Ulsan plant that day and discussed the direction of talks and the schedule. About 60 representatives from labor and management attended, including CEO Choi Young-il of Hyundai Motor, National Metal Workers' Union Chair Park Sang-man, and Hyundai Motor chapter head Lee Jong-cheol.
Earlier, the union sent the company this year's bargaining demands, including a 149,600 won monthly base-pay raise (excluding step increases), payment of performance bonuses equal to 30% of last year's net profit, and guarantees on employment and working conditions related to AI. It also proposed raising bonuses, implementing a full monthly salary system, extending the retirement age in line with the timing of National Pension benefits (up to 65), and hiring new workers.
In this year's talks between Hyundai Motor labor and management, issues beyond wages, such as a full monthly salary system and employment stability, are expected to be focal points. A full monthly salary system guarantees a fixed monthly salary regardless of the number of working days. Maintaining domestic production volume for job security has also been an area of disagreement between labor and management.
Hyundai Motor labor and management had reached agreements without strikes for six years, but there were three partial walkouts during last year's wage talks. After a difficult process, the two sides agreed last year to a 100,000 won base-pay increase and a performance bonus of 450% plus 15.8 million won.