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GM Korea Facing Serious Challenges amid Liquidity Shortfalls

GM Korea Facing Serious Challenges amid Liquidity Shortfalls

SEOUL, Apr. 9 (Korea Bizwire) — The South Korean unit of the U.S. auto giant GM Motors is currently facing difficulties paying its workers and subcontract companies as it faces a serious liquidity crunch, industry watchers said Sunday. According to corporate sources, Kaher Kazem, the CEO of GM Korea, recently organized a staff meeting, where [...]

Gov’t Calls for Talks Between GM Korea, Labor Union

Gov’t Calls for Talks Between GM Korea, Labor Union

SEOUL, April 6 (Korea Bizwire) – The South Korean government on Friday urged General Motors’ Korean unit to resume negotiations with its labor union to normalize its business as an intensifying labor dispute is complicating the automaker’s turnaround plan. A tug-of-war between GM Korea and its workers has turned more combative after some union leaders took over the office of GM Korea President Kaher Kazem at the [...]

Naver Workers Create Company’s First Labor Union

Naver Workers Create Company’s First Labor Union

SEOUL, April 3 (Korea Bizwire) — A labor union has been created at internet giant Naver for the first time in the company’s history. The union, a subgroup operating under the Korean Confederation of Trade Unions, issued its official declaration on Tuesday, and received membership applications from 300 people within a couple of hours, according to [...]

Shareholder Advocacy Firm Opposes KB Financial Labor’s Proposals

Shareholder Advocacy Firm Opposes KB Financial Labor’s Proposals

SEOUL, Nov. 9 (Korea Bizwire) — With KB Financial Group Inc.’s extraordinary shareholders meeting 10 days away, a global corporate advisory firm has objected to two agenda items offered by the major banking group’s labor union, industry sources said Thursday. In a recent report, U.S.-based Institutional Shareholder Services Inc. (ISS) has advised shareholders to vote [...]

Unexpected Turnaround by Hyundai’s Labor Union Leaves Onlookers Surprised

Unexpected Turnaround by Hyundai’s Labor Union Leaves Onlookers Surprised

SEOUL, Jul. 19 (Korea Bizwire) — The labor union representing the employees of Hyundai Motor Company decided yesterday not to go on strike before the summer holiday season. Instead, it will focus on pushing through negotiations with Hyundai. The union is believed to have stated that “instead of going on strike or taking an antagonistic position [...]