The Hyundai Heavy Industries labor union has been on strike at the Ulsan headquarters since April 27 due to difficulties in wage negotiations. [Image source=Yonhap News]
[Asia Economy Reporter Jeong Dong-hoon] Hyundai Heavy Industries labor and management reached a tentative agreement on this year's wages and collective bargaining agreement on the 6th.
Hyundai Heavy Industries labor and management held the 36th round of negotiations at the Ulsan headquarters starting the day before and finally reached a tentative agreement. The tentative agreement includes a base salary increase of 80,000 KRW (including a seniority raise of 23,000 KRW), a 20,000 KRW increase in regional and welfare allowances, performance bonuses, encouragement money of 3.5 million KRW, and gift certificates worth 300,000 KRW. It was also decided to increase the number of fixed-term hires for production technology positions retired due to age.
The labor union plans to hold a vote among all union members on the tentative agreement on the 8th.
The joint strike by the three shipbuilding companies of Hyundai Heavy Industries Group, originally scheduled for the afternoon of the same day, was postponed. Initially, the unions of the three companies planned a four-hour joint partial strike in the afternoon, a rotating strike among the three unions from the 7th to the 9th, and a joint full strike on the 13th.
This is the first time since the establishment of the Hyundai Heavy Industries union in 1987 that the three unions have decided on a joint strike.
With Hyundai Heavy Industries (about 7,700 union members) concluding negotiations this year, it is expected that Hyundai Mipo Dockyard (about 1,900 union members) and Hyundai Samho Heavy Industries (about 2,100 union members) will accelerate their negotiations. The management of Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries have not yet presented negotiation proposals.
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