Hyundai Motor's unionised workers have won permission to go on strike, the union said on Monday, raising the probability of the company's first wage-related industrial action in five years.
unionised workers have won permission to go on strike, the union said on Monday, raising the probability of the company's first wage-related industrial action in five years.
The National Labor Relations Commission, a South Korean government organisation that handles labour disputes, cleared the way for strike action at the country's top car maker, the Hyundai Motor union said in a statement. The commission recognised large differences in positions between the company's management and union, Yonhap News Agency said on Monday. A commission spokesperson was not available for comment.on Friday to walk out unless the company accepted demands for wage increases and an extension of the retirement age.If the strike goes forward, it would be the first such action in five years related to wage negotiations at Hyundai Motor and could disrupt delivery of some popular vehicles.
The strike could cause up to 1 trillion won in operating losses, and put pressure on domestic sales as there is little backlog to sell, KB Securities said in a research note on Monday.
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