The union of South Korea’s largest automaker Hyundai Motor Co. on Tuesday began four-day rotating strike in protest to a delayed agreement on its demands on wage hike and a full-time position for irregular workers.
Unionized workers that laid down tools for two hours on Tuesday went into an extended strike on Wednesday. Assembly workers at Hyundai Motor’s Ulsan 1,2,3,4,5 factories on the eastern coast, Jeonju plant in southern Korea, and Asan, south of Seoul took turns to stay away from production lines for three hours.
Workers at peripheral production sites such as engine and transmission lines will go on a three-hour strike on Thursday. On Friday, the entire unionized workers will stage a three-hour walkout.
Hyundai Motor shares finished Wednesday at 162,000 won ($148.19), up 0.31 percent from the previous session.
The company estimates production of 17,000 vehicles worth 38 billion won could be disrupted a day from the strike. The management warned that it will exclude pay for the hourly walkout.
Since April, the union and the management have had 35th wage negotiations but have not reached a deal as the union demands 30 percent of net profit in bonuses on top of a hike in base salary. The company has been resisting its demand citing worsening business performance.
By Lee Seung-hoon and Cho Jeehyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]