Teetering S. Korean economy hit by spreading labor dispute
Jul 19, 2016
[THE INVESTOR] Labor disputes are spreading across South Korean industries with Hyundai Motor and Hyundai Heavy’s unions striking on July 19, while other major unions are taking steps to follow suit. The unions of Hyundai Motor and Hyundai Heavy Industries on July 19 staged a partial strike, collaborating in industrial dispute for the first time in 23 years. Hyundai Motor’s union is demanding a 7.2 percent raise and 30 percent of 2015 net profits as bonus of employees, among other conditions. Hy