Hyundai Union Announces Full Strike for 8 Hours on the 21st
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The Hyundai Motor Company union has announced a full strike for 8 hours on the 21st after failing to reach an agreement in this year's wage negotiations. This marks the first full strike in 10 years since 2016. The union plans to conduct partial strikes of 4 hours each on the 19th-20th and 24th-25th. If the strike proceeds, production disruptions are expected to escalate, with total production losses projected to reach 62,000 units by the 25th, resulting in an estimated revenue loss of 2.6 trillion won. Key issues in this negotiation include wage increases, bonuses, reinstatement of dismissed union members, and retirement age extensions. The company claims these matters are not part of this year's wage negotiations. Labor disputes in the entire automotive sector are also intensifying, with the National Metal Workers Union planning a joint strike in the automotive sector on the 20th-21st. The POSCO union has also secured the right to strike after failing to narrow differences in wage negotiations. Hyundai is scheduled to hold a CEO Investor Day on the 26th.
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