Hyundai Motor workers begin three-day partial strike over pay dispute
Hyundai Motor's workers leave a facotry in Ulsan two hours before the end of their regular daytime shift, Monday. Yonhap
The labor union of Hyundai Motor began a three-day partial strike on Monday, raising concerns over production disruptions at Korea's largest automaker.
Workers on the daytime and evening shifts will each stop work for two hours from Monday through Wednesday after management and the union failed to reach a collective bargaining agreement, the company said in a regulatory filing.
It marks the union's first walkout of the year and the second consecutive year of strike action.
The two sides have held 15 rounds of wage negotiations this year but have failed to narrow their differences over pay.
The company has offered an 80,000-won ($53.2) increase in monthly base pay, a performance bonus equivalent to 350 percent of monthly salary plus 10 million won, and 15 shares of company stock.
The union is reportedly demanding a larger wage increase and performance-based pay equivalent to 30 percent of the company's net profit for last year.