Hyundai Steel signs 1st subcontractor deal under yellow envelope act

Hyundai Steel made history on Thursday by signing the first collective bargaining agreement with subcontracted workers under the provisions of the recently enacted yellow envelope act. The agreement was finalized at Hyundai Steel's Dangjin plant, where labor and management representatives from the steelmaker and its four subsidiaries gathered for a signing ceremony.

The four subsidiaries involved were Hyundai ITC, Hyundai IEC, Hyundai IMC, and Hyundai ISC. According to the labor ministry, the signing marks the first time a domestic company has extended its bargaining obligations to subcontracted workers since the yellow envelope act took effect in March. The primary focus of the negotiations, which began on August 20, centered around industrial safety issues.

Hyundai Steel's management and the labor and management of the subcontractors reached a final agreement that includes a commitment to continuously improve industrial safety and health management systems at the subcontractors.