Hyundai Motor workers stage full-scale strike over wage disputes

Seoul, Aug. 21 - The labor union representing Hyundai Motor Co. workers initiated an all-day strike on Friday after failing to broker a deal with management on wages, sparking worries about additional production interruptions due to dwindling vehicle sales. This marks the first time in ten years that Hyundai's union has conducted a 8-hour walkout.

Hyundai Motor's factories in Ulsan, Jeonju, and Asan are expected to halt operations for a total of 16 hours over two shifts, with approximately 39,000 union members joining the protest. In total, the union has staged 60 hours of strikes since wage negotiations commenced with management in May. Industry estimates suggest that these repeated strikes could result in a cumulative loss of around 55,200 vehicles, amounting to sales losses exceeding 2.3 trillion won (US$1.64 billion).

Production interruptions are anticipated to intensify, as the union has scheduled further 4-hour strikes for Monday and Tuesday. The latest labor dispute arose due to the management and union's inability to converge on wages, a 50% hike in performance-based pay, the reinstatement of union members expelled for alleged misconduct, and a delay in raising the retirement age.