Hyundai Motor workers to extend strikes over pay dispute
Hyundai Motor's workers leave a factory in Ulsan two hours before the end of their regular daytime shift, Monday. Yonhap
Hyundai Motor's union said Thursday its workers will extend their partial strikes next week in a bid to secure higher wages, raising concerns over production disruptions at Korea's largest automaker.
Hyundai workers already staged partial strikes this week, with employees on the day and night shifts each walking off the job for two hours from Monday through Wednesday after failing to reach a wage agreement with the company, a union spokesperson said.
The spokesperson said union members will stage four-hour strikes during their respective shifts from July 20 to 22 in the union's second round of walkouts this year.
The two sides have held 15 rounds of wage negotiations this year but have failed to narrow their differences over pay.
The 39,668-member union is demanding a 149,600-won increase in monthly base pay and performance-based pay equivalent to 30 percent of the company's net profit for last year.
The maker of Sonata sedans and Palisade sport utility vehicles posted a net profit of 10.36 trillion won last year.
The company, however, has offered an 80,000-won 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.