As a member of the Korean Metal Workers’ Union of the Korean Confederation of Trade Unions, the Hyundai Motor Company labor union has declared that it would join both the confederation’s general strike scheduled for July 20 and the strike of the metal workers’ union scheduled for July 22.
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Hyundai Motor’s consolidated net profit came in at more than 6.5 trillion won previous year.
It would be the first joint strike in 23 years for the nation’s leading automaker and shipbuilder. This is the first time that the two labor unions took such a vote on the same date.
The result is to be released today.
Hyundai Motor’s unionized workers in South Korea voted to go on strike for a fifth year in a row after wage talks broke down, adding to the automaker’s troubles as it battles a sales slowdown.
Historically, Hyundai Motor union members have always voted to strike after failed wage negotiations.
Still, the unions are not allowed to down tools immediately during a mandatory mediation by the state-run National Labor Relations Commission, which usually lasts 10 days. Thanks to strong performances of the trio – i30, Tucson and Accent – Hyundai Motor was the third best-selling vehicle brand in the first half in Australia, with combined sales of 54,350 units, up 8.5 percent from 50,099 units on year.
The labor union of Samsung Heavy Industries passed a plan to go on strike on June 28, with 92 percent voting for a strike.
Potential bidders include Korea Investment & Securities, Shinhan Financial Group and a slew of mid-tier financial companies, but they have not shown keen interest in buying the brokerage house, the sources said.
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“A strike from labor unions is of no help to the company’s business normalization or assuring stable employment, especially at a time when companies are worrying about their survival”, a Hyundai Heavy Industries spokesperson said.
