Hyundai labor union stages more strikes this week

Hyundai Motor’s unionized workers will stage three or four strikes over five consecutive days starting Monday, as it failed to meet halfway with management over raises and job security.

Starting with a three-hour partial walkout, workers at car manufacturing plants and auto parts factories are scheduled to stage four-hour partial strikes on Tuesday and Wednesday, respectively, the union said.

The entire labor union will continue four-hour partial strikes Thursday and Friday.

The union has demanded a 154,883 won ($142) raise in base monthly pay, a bonus worth 30 percent of last year’s net profit and stronger job security.

Hyundai’s management has so far suggested a raise of 42,879 won and bonuses of 250 percent.

Stepping up its push for higher wages, the union said it plans to hold strikes in front of Hyundai Chairman Chung Mong-koo’s house in central Seoul.

“Hyundai Motor will handle the walkout according to principles,” Hyundai Motor said.

Strikes by Hyundai workers are estimated to affect production of some 43,000 vehicles, for about 890 billion won in losses.

Continued walkouts will inevitably delay the supply of Kona SUVs that were set for release in the US in the first half of 2018, Hyundai Motor added.

The compact SUV Kona was introduced to US drivers at the LA Motor Show last month with aims to boost sales there.

Hyundai Motor posted a net profit of 939.2 billion won between July and September this year, down 16 percent on-year largely due to poor sales in China and the US.

By Kim Bo-gyung (lisakim425@heraldcorp.com)