The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    South Korea speeds up full-fledged deployment of US anti-missile battery

  • 3

    INTERVIEWHow ATEEZ achieved worldwide success

  • 5

    ANALYSISTesla, BYD's price cuts unnerve LGES, Samsung, SK

  • 7

    Firstborns account for record-high 63% of newborns

  • 9

    Apple Pay service limited by lack of NFC terminals

  • 11

    Chun Doo-hwan's grandson to apologize to victims of Gwangju massacre

  • 13

    Korean police search for 2 Kazakhstanis who fled airport

  • 15

    Samsung chief inspects production plants in China for first time in 3 years

  • 17

    Yoo Ah-in appears before police over alleged use of illegal drugs

  • 19

    Unrest on the Island of World Peace in 1903

  • 2

    Lee Sun-kyun, Lee Ha-nee reunite in new rom-com 'Killing Romance'

  • 4

    Kakao seeks to bolster SM's global presence as new owner

  • 6

    Actor Yoo Ah-in appears for questioning over alleged drug use

  • 8

    4 young Nigerian siblings killed in house fire in Ansan

  • 10

    Foreign minister hosts Iftar dinner for Muslims in Korea

  • 12

    Busan aims to win hearts of developing nations in Expo 2030 bid

  • 14

    Bank failures and rescue test Yellen's decades of experience

  • 16

    From mines to mobility: 140-year-old partnership between Germany and Korea

  • 18

    SK chief's estranged wife sues his new partner for compensation

  • 20

    Cook praises China's innovation, long history of cooperation on China visit

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Tue, March 28, 2023 | 08:59
Companies
Gwangju job project reaches agreement
Posted : 2019-01-31 17:00
Updated : 2019-01-31 17:00
Nam Hyun-woo
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
President Moon Jae-in holds hands with stakeholders in a job project for Gwangju after a signing ceremony at Gwangju City Hall, Thursday. From left are Federation of Korean Trade Unions Gwangju chapter chief Yoon Jong-hae, Gwangju Mayor Lee Yong-seop, Moon and Hyundai Motor President Lee Won-hee. Yonhap
President Moon Jae-in holds hands with stakeholders in a job project for Gwangju after a signing ceremony at Gwangju City Hall, Thursday. From left are Federation of Korean Trade Unions Gwangju chapter chief Yoon Jong-hae, Gwangju Mayor Lee Yong-seop, Moon and Hyundai Motor President Lee Won-hee. Yonhap

By Nam Hyun-woo

An agreement was reached Thursday for Hyundai Motor to build a plant in Gwangju that will create up to 12,000 jobs. The accord came after a series of botched negotiations between the union, city government and the carmaker over labor conditions at the proposed factory.

According to officials, Hyundai Motor agreed to the project proposed by the Gwangju government, a day after the latter and unions reached an agreement on labor-management relations and wage negotiations.

"This is an outcome we have awaited for four-and-a-half years," said President Moon Jae-in who attended a signing ceremony for the agreement.

"The project will be a historical turning point toward job creation and will be proof that agreements can keep wages at an appropriate level and create more jobs," he said. "Also, it is a model case for the mutual prosperity of workers and management, showing that our society has become mature."

The plant will cost 280 billion won, with the local government paying in 59 billion won ($53.1 million), making it the largest stakeholder with 21 percent, while Hyundai Motor will invest 53 billion won for a 19 percent share.

Gwangju will seek to raise the remainder from investments by local communities, public institutions and other investors, although Hyundai pledged to remain as a potential future investor.

The plant will be capable of producing 100,000 mini SUVs, which Hyundai Motor has not been releasing new models of since 2002, leaving the sector to Kia Motors and GM Korea.

Should the plan go as scheduled, the plant will go into operation in 2021. New workers will get an annual salary of 35 million won, almost half the average pay at the five domestic carmakers in 2016.

The agreement came after the unions withdrew their earlier opposition to a clause in the wage conditions, which stated employees at the plant could not engage in collective bargaining until the plant produced 350,000 vehicles.

In botched negotiations in December, the unions demanded the clause be scrapped, but Hyundai Motor rejected this.

"With the project, Hyundai Motor plans to develop new SUVs to secure its domestic competitiveness in the mini SUV segment," a company official said.

However, the group's union denounced the deal, with some leaders staging a walkout to oppose the project.

"Due to the project, up to 12,000 jobs will disappear in other regions and many auto parts suppliers will go bankrupt," the union said in a statement. "Also, it will bring a collapse in the existing labor market order and drag down other employees' wages."

The union added it will soon decide on a method to protest the deal.

The Korean Confederation of Trade Unions, which is the umbrella union of the Hyundai Motor union, also said the agreement seriously undermined employees' rights, blaming the Federation of Korean Trade Unions, another umbrella union which joined the negotiations with the Gwangju government.



Emailnamhw@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1[ANALYSIS] Tesla, BYD's price cuts unnerve LGES, Samsung, SK ANALYSISTesla, BYD's price cuts unnerve LGES, Samsung, SK
2Yoo Ah-in appears before police over alleged use of illegal drugs Yoo Ah-in appears before police over alleged use of illegal drugs
3US aircraft carrier to visit Busan amid NK provocations US aircraft carrier to visit Busan amid NK provocations
4Families of foreign construction workers can receive retirement pay: court Families of foreign construction workers can receive retirement pay: court
5Korean crypto investors want Do Kwon punished in USKorean crypto investors want Do Kwon punished in US
6Indonesian investment minister promotes EV cooperation with Korea Indonesian investment minister promotes EV cooperation with Korea
7Nongshim plans to build plant in eastern US region Nongshim plans to build plant in eastern US region
8Gimpo-China flights recover to pre-pandemic levels Gimpo-China flights recover to pre-pandemic levels
9Right-wing Japanese support Seoul-Tokyo ties: Korean envoy to JapanRight-wing Japanese support Seoul-Tokyo ties: Korean envoy to Japan
10Local bank stocks hit by shockwaves from SVB, CS collapses Local bank stocks hit by shockwaves from SVB, CS collapses
Top 5 Entertainment News
1Lee Sun-kyun, Lee Ha-nee reunite in new rom-com 'Killing Romance' Lee Sun-kyun, Lee Ha-nee reunite in new rom-com 'Killing Romance'
2[INTERVIEW] How ATEEZ achieved worldwide success INTERVIEWHow ATEEZ achieved worldwide success
3Will April releases revive Korean cinema? Films to look out for in April Will April releases revive Korean cinema? Films to look out for in April
4Dreams come true: TXT mesmerizes 21,000 fans at KSPO Dome Dreams come true: TXT mesmerizes 21,000 fans at KSPO Dome
5'My ID is Gangnam Beauty' to be adapted into live action series in Thailand 'My ID is Gangnam Beauty' to be adapted into live action series in Thailand
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group