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Unionized Workers of Hyundai Heavy Stage First All-Out Strike in 23 Years

Unionized Workers of Hyundai Heavy Stage First All-Out Strike in 23 Years

SEOUL, Feb. 23 (Korea Bizwire) – Labor union leaders at South Korean shipbuilder Hyundai Heavy Industries Co. declared an all-out strike Thursday over failed wage negotiations and a proposed split of the firm’s non-shipbuilding business.  What union and company officials called the first full-fledged walkout in 23 years came after labor union leaders told all [...]

McDonald’s Part-Timers Struggle with Unpaid Wages

McDonald’s Part-Timers Struggle with Unpaid Wages

SEOUL, Jan. 11 (Korea Bizwire) – McDonald’s Korea’s Mangwon branch had its franchise contract with the fast food company terminated on December 1 of last year.  According to McDonald’s, the owner of concern had been failing to fulfill the terms of agreement, including paying the company franchise commissions amounting to a total of about 700 [...]

Railroad Employees Return to Work After 74-Day Walkout

Railroad Employees Return to Work After 74-Day Walkout

DAEJEON, Dec. 9 (Korea Bizwire) – South Korea’s unionized railway workers will end their 74-day-long strike and return to work Friday, while vowing to continue their protest against the implementation of a performance-based pay system.  The Korean Railway Workers’ Union said it will end the walkout as of 2 p.m., concluding its longest-ever railway strike [...]

McDonald’s Part-Timers Form Labor Union

McDonald’s Part-Timers Form Labor Union

SEOUL, Nov. 11 (Korea Bizwire) – “We’ll make a McJob a GoodJob,” read the slogan held by a picketer wearing a McDonald’s paper bag.  Taking place Wednesday in front of the McDonald’s headquarters building in Seoul was the inauguration ceremony of a new McDonald’s labor union of current and former part-timers.  The union has existed [...]

Daewoo Shipbuilding’s Labor Union Pressed to Accept Restructuring Scheme

Daewoo Shipbuilding’s Labor Union Pressed to Accept Restructuring Scheme

SEOUL, Nov. 11 (Korea Bizwire) – The labor union at Daewoo Shipbuilding & Marine Engineering Co. is being pressed to accept the shipyard’s restructuring scheme including a workforce reduction, a key condition for the embattled shipyard to receive financial aid from its creditors, industry sources said Friday.  Earlier this week, the creditors, led by the [...]

Hyundai Motor’s Market Cap Tumbles on Strike, Strong Won

Hyundai Motor’s Market Cap Tumbles on Strike, Strong Won

SEOUL, Oct. 10 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, has recently seen its market value fall two notches to the No. 5 spot amid concerns over poor third-quarter earnings in the wake of a strike and a strong local currency.  The market capitalization of Hyundai Motor, the flagship of the country’s [...]

Hyundai Unionists Threaten to Stage General Strike If Gov’t Orders Emergency Arbitration

Hyundai Unionists Threaten to Stage General Strike If Gov’t Orders Emergency Arbitration

SEOUL, Oct. 5 (Korea Bizwire) – Unionized workers at the Hyundai Motor Group threatened Wednesday to stage a general strike if the government invokes its right to emergency arbitration to order workers at South Korea’s No. 1 carmaker to return to work, sources said.  The move came after Labor Minister Lee Ki-kweon said last week [...]