SEOUL, Aug. 29 (Korea Bizwire) – Hyundai Motor Co.’s union said Tuesday its new leadership will resume wage talks with the company in November, as no headway has been made after 28 rounds of “fruitless” negotiations.
“We have decided to suspend wage talks with the company as its revised offerings were not satisfactory at all. Once a new union leader is elected next month a leadership structure should be in place by October, and these people can then handle the wage deal in November,” a union spokesman said over the phone.
The company confirmed this year’s talks are now suspended and should resume later.
Hyundai Motor will make efforts to wrap up the wage deal with the union as early as possible, the spokesman said.
As for concerns that such uncertainties could affect Hyundai’s planned launches of new cars, the company said the union will go back to work to avoid further production losses with the carmaker to roll out new models as planned.
Hyundai’s luxury sub-brand Genesis plans to unveil the G70 sedan this Friday to the media, with the sale of the mid-size sedan scheduled to begin in the domestic market next month.