The union demanded a 132,013 won, or 6.51 percent, increase in monthly wages, and an additional bonus equal to 250 percent of the previous year’s earnings while the company suggested a 37,000 won increase in wages.(image: Labor union of Hyundai Heavy Industries )
SEOUL, Sep. 4 (Korea Bizwire) – Hyundai Heavy Industries stares a strike in the face for the first time in 20 years.
The labor union of Hyundai Heavy Industries refused to negotiate with the management of the company in the 35th negotiation session on September 1. The union demanded a 132,013 won, or 6.51 percent, increase in monthly wages, and an additional bonus equal to 250 percent of the previous year’s earnings while the company suggested a 37,000 won increase in wages.
Even though the shipbuilder appealed to unionized workers for sharing the hardship they are faced with as it posted an operating loss of 1.1 trillion won in the second half of 2014, they are still sticking to their demands.
As the two sides failed to negotiate on wages, the union plans to walk off the job sooner or later for the first time since 1995.
By Veronica Huh (veronicah@koreabizwire.com)
