After a strike ballot, Hyundai Motor labor and management resumed wage talks and agreed that the union and the company will reach agreements on employment-linked matters such as the company pursuing new businesses.
According to the industry on the 2nd, Hyundai Motor labor and management reached a tentative agreement at the 12th wage talks that day on a separate proposal titled "employment stability measures in preparation for Mirae Industries." Under the deal, the company must consult with the union to jointly respond to new technologies such as physical artificial intelligence (AI), to push for in-house production of key electrification components, and to roll out new businesses. The agreement also includes keeping algorithms and data processing methods confidential when introducing AI.
This is in the same vein as the Kia union effectively seeking management decision-making power by demanding consensus between labor and management when developing new models and making new investments in domestic and overseas plants. Since the implementation of the yellow envelope law, a new labor law aimed at strengthening the bargaining rights of subcontract workers, growing calls for participation in management by complete-vehicle unions have raised concerns that the swift decision-making structure of corporations could be somewhat constrained.
Differences remain between labor and management over the wage proposal. The company proposed raising the base salary by 79,000 won and paying a bonus of 350% + 9 million won + 10 shares, but the union did not accept it.
The Hyundai Motor union will continue negotiations on the 6th and then hold the second strike countermeasures committee meeting on the 8th to decide the scope of action again.