This file photo provided by Hyundai Motor Co. shows the company’s management and union leaders at wage negotiation talks in the southeastern city of Ulsan on May 23, 2024. (Yonhap)
SEOUL/ULSAN, June 24 (Korea Bizwire) – Unionized workers of Hyundai Motor Co., South Korea’s leading automaker, on Monday overwhelmingly voted in favor of staging a strike following the collapse of annual wage negotiations between management and the union.
Earlier this month, the union decided to call off further negotiations after holding the eighth round of wage talks at the company’s plant in Ulsan, 299 kilometers southeast of Seoul.
Monday’s vote was conducted at the Ulsan plant. According to the union, 89.97 percent of a total of 41,461 votes cast were in favor of a strike.
If executed, the walkout would be the first for the company in six years. Hyundai Motor’s union has not carried out a strike in the past five years, taking into consideration various factors, such as the COVID-19 pandemic and national trade issues.
The union plans to discuss whether and when to carry out the strike in a future meeting. It will also continue to hold working-level negotiations with the management.
The management has reportedly offered to provide a basic monthly salary increase of 101,000 won (US$73.50) and an additional bonus package, which includes an incentive of 350 percent of an individual’s monthly salary, as well as the issuance of 20 shares of company stock.
The company also offered to create a joint management-union fund to be used for donations and other public outreach programs.
(Yonhap)
