Hyundai Motor workers stage full-scale strike over wage disputes

The labor union of Hyundai Motor Co. initiated an all-out eight-hour strike on Friday, following their inability to reach an agreement with management regarding wages, raising apprehensions about further production interruptions due to dwindling vehicle sales. This marks the inaugural eight-hour strike for the union in a decade.

The production lines at Hyundai Motor's facilities in Ulsan, Jeonju, and Asan will be suspended for a total of 16 hours over two shifts, involving approximately 39,000 union members in the protest. Since wage negotiations commenced in May, the union has orchestrated a combined 60 hours of strikes. These ongoing strikes are projected to result in a total loss of around 55,200 vehicles, with declining sales amounting to over 2.3 trillion won ($1.64 billion), according to industry estimates.

Additional four-hour walkouts are anticipated on Monday and Tuesday, exacerbating production disruptions. The latest labor action ensued after management and the union were unable to converge on a resolution concerning wages, a proposed 50 percent surge in performance-based pay.