Korean media: "Demand 30% of net profit as performance bonus" — Hyundai Motor union begins partial strike today
The Hyundai Motor union has failed to reach an agreement on this year's wage negotiations and has decided to conduct a three-day partial strike starting today (13th). This marks the second consecutive year of strikes by the union following last year’s action, raising concerns over massive losses caused by work stoppages.
According to the Hyundai Motor branch of the Korean Metal Workers' Union (the union), all union members will halt production two hours before the end of each shift from the 13th to the 15th.
Departments outside production—such as sales, maintenance, research institutes (Namyang), and Mobis committees—will determine the scale of their strike based on on-site conditions. Industry estimates suggest that each hour of strike will result in production losses exceeding 187 billion KRW.
The pressure on management will also be intensified simultaneously. Union representatives and standing executive committee members will begin round-the-clock sit-in protests starting from the 13th. All labor-management agreements and engineering activities beyond collective bargaining will be fully suspended, and the ongoing refusal of special overtime instructions since the 6th will continue unchanged.
This strike was triggered by the breakdown of the 15th negotiation session on the 8th. At that time, management proposed its third offer: a basic wage increase of 89,000 KRW, a performance bonus of 350% plus 10 million KRW, and the issuance of 15 shares of company stock. However, the union rejected this proposal and confirmed the strike schedule accordingly.
Currently, the union's demands include: a basic wage increase of 149,600 KRW (excluding seniority-based raises), distribution of 30% of last year’s net profit as a performance bonus, an 800% raise in bonuses, extension of retirement age, and reinstatement of laid-off workers.
In response to the confirmation of the strike, Hyundai Motor’s representative director, Choi Young-il (translated name), stated: "Past strikes have only brought production losses, wage losses, and public criticism." He added, "There has never been a precedent for additional proposals or compensation for lost wages after a strike," and urged employees to return to their workplaces.
Additionally, the union plans to hold a third Central Dispute Response Committee meeting again on the 16th, the day after the strike ends, to reassess future strategies and intensity of actions.
Source: JoongAng Ilbo
Original article: toutiao.com/article/1870592485521472/
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