Kia Motors Withdraws Strike

Kia Motors scrapped plans for a strike that was scheduled to take place Wednesday and Thursday this week. The labor union of the company Tuesday stopped working for four hours in the morning and planned to go on strike for two days.

However, the labor union decided to remove the plan to prepare main negotiations with the management group for two days from Wednesday.

``To make sincere negotiations with the management, the labor union withdrew the strike,’’ a spokesman from the company said. Kia Motors estimates that the strike will cause losses of 60 billion won which is equivalent to the value of 4,100 cars.