Hyundai Motor Union Declares Breakdown of Wage Negotiation Talks

Prospect of Central Labor Commission Mediation Application on the 23rd

[Image source=Yonhap News]

[Asia Economy Reporter Kiho Sung] The Hyundai Motor labor union, currently conducting wage negotiations, has declared a breakdown in talks.

The Hyundai Motor union announced on the 22nd during the 12th round of negotiations that the wage talks had collapsed.

The union stated, "Despite 12 main negotiation sessions and several working-level talks, we could not make any progress on our demands," adding, "We have no choice but to declare a breakdown in negotiations to enforce our demands." The Hyundai Motor union had been requesting the company to present a comprehensive wage proposal.

Following the union's declaration of a breakdown in negotiations, they plan to apply for mediation with the Central Labor Relations Commission on the 23rd. If the commission determines that the positions of labor and management are far apart, it may decide to suspend mediation, and if union members approve a strike vote, a legal strike will be possible.

The union had previously demanded a base pay increase of 165,200 KRW (excluding step increases), a 30% performance bonus based on net profit, and the adjustment of allowances. Additionally, key issues include hiring new personnel, extending the retirement age, and job security. They are also calling for the effective abolition of the wage peak system and for the establishment and investment in domestic factories related to the future car industry.