Hyundai Motor's unionised workers in South Korea on Friday vote to decide on a strike after two months of talks with the company over wage increase and extension of the retirement age stalled last week.
unionised workers in South Korea on Friday vote to decide on a strike after two months of talks with the company over wage increase and extension of the retirement age stalled last week.
If the union stages a strike, it would mark the first such action in five years related to wage negotiations at the South Korean carmaker, and could disrupt delivery of some popular vehicles which Hyundai has been struggling to ramp up due to prolonged component shortages. The union, one of the biggest in the country with about 40,000 members, is seeking a minimum basic monthly pay increase of 184,900 won and a performance pay equating to 30% of Hyundai's 2022 net profit. It is also demanding Hyundai's management to raise the retirement age to 64 from 60.Hyundai Motor did not immediately respond to Reuters request for comment.
Analysts said the union would likely avoid prolonged industrial action partly due to unfavourable public sentiment, as the auto industry remains one of few bright spots in the country's sluggish economy.0.8% fall as at 0111 GMT.
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