Hyundai Motor Union Passes Strike Resolution... Vote Scheduled for the 25th

Unanimous Approval at Temporary Delegates' Meeting on August 20

The Hyundai Motor labor union unanimously passed a strike resolution at a temporary delegates' meeting, signaling the start of preparations for a strike. If the union acquires the legal right to strike and proceeds with industrial action according to procedure, the six-year record of strike-free negotiations between Hyundai Motor's labor and management will come to an end.

On August 20 at 2:00 p.m., the Hyundai Motor union held its 152nd temporary delegates' meeting at the main auditorium of the Hyundai Motor Cultural Center in Ulsan, where the resolution to initiate a labor dispute (strike) was passed unanimously.

On August 25, a vote will be held among union members to decide whether to approve industrial action. If the Central Labor Relations Commission issues a mediation suspension decision and more than half of the members vote in favor, the union will secure the legal right to strike.

This year, Hyundai Motor's labor and management have held 17 rounds of wage and collective bargaining negotiations since their initial meeting in June, continuing up to August 13. During the 17th round, the union declared a breakdown in negotiations, criticizing management for what it described as insincere bargaining behavior.

In this year's wage and collective bargaining negotiations, the Hyundai Motor union has demanded the following: a monthly base salary increase of 141,300 won (excluding seniority raises); a performance bonus equal to 30% of last year's net profit and a bonus payout totaling 900%; extension of the retirement age to 64; introduction of a 4.5-day workweek; implementation of a progressive severance pay system; and a consolation payment of 20 million won per union member based on ordinary wages.

Hyundai Motor Company labor and management representatives held a meeting for this year's wage and collective agreement at the Ulsan plant last June. Photo by Hyundai Motor Company