Hyundai Motor(005380) union launched its first full strike in 10 years, and Kia(000270) union also decided on a partial strike, accelerating production disruptions at Hyundai Motor Group.
On the 21st, according to the finished-car industry, the Kia union held a dispute countermeasures committee meeting that day and decided on a three-day partial strike from the 26th to the 28th. By shift, the strike hours are four hours on the 26th, two hours on the 27th, and four hours on the 28th.
If the partial strike begins, Kia labor and management will also break the record of "five consecutive years of strike-free settlements" that has continued since 2021. The union said it will work as usual on days when main negotiations with management are held, but the schedule for subsequent main negotiations has not been set.
At the 10th main negotiation on the 19th, management proposed raising base pay by 98,000 won, a performance bonus of 400% plus 12 million won, and increasing the long-service encouragement payment by 200,000 won. If this year's maximum production and sales targets are met, 500,000 welfare points will be granted, and the allowances for employees at Hyundai Motor and Kia Namyang Technical Research Center will be raised to 35,000 won.
The union demanded a base pay increase of 149,600 won, payment of 30% of last year's operating profit as a performance bonus, implementation of a 4.5-day workweek, and extending the retirement age to 65.
Meanwhile, the Hyundai Motor union will stage an eight-hour full strike for the day. It is the first time in 10 years since September 2016. Including the full strike that day, the union's cumulative strike time this year has increased to 60 hours. Combining the strike hours for each of the morning and afternoon shifts, production lines have been halted for 120 hours. The resulting hit to revenue is estimated at 2.35 trillion won.