Hyundai Motor Union Confirms Third Partial Strike, Raising Fears of a Prolonged Labor Dispute

[Financial News] The Hyundai Motor Company labor union, the Hyundai Motor Branch of the Korean Metal Workers' Union, has decided to launch a third partial strike after wage and collective bargaining talks stalled.
At a fourth meeting of the Central Strike Countermeasures Committee on the afternoon of the 23rd, the union decided to carry out partial strikes for four hours a day over three days, from the 29th to the 31st.
According to the union's No. 4 directive distributed to members that day, the first shift and the permanent first shift will stop work from 10:50 a.m. to 3:30 p.m., while the second shift will walk out from 7:30 p.m. to 12:10 a.m. the next day. The permanent daytime shift will strike from 12:40 p.m. to 4:40 p.m., and regular office workers will join the strike from 1 p.m. to 5 p.m., each for four hours.
On the first day of the strike, the 29th, the union plans to hold a 'general strike resolution rally' combining a report meeting by business division for the first shift and a rally at the main building for the second shift. On the 30th, it will hold report meetings by business division, and on the 31st, report meetings by electoral district.
The directive also included the leadership's determination to "establish an equal labor-management relationship through a resolute struggle and win the fight with the solidarity of 40,000 members." The next Central Strike Countermeasures Committee meeting is scheduled for August 11, so this strike is likely to be the union's last real pressure tactic before the summer vacation.
The union has already staged two partial strikes this month. After the first strike, it also carried out four-hour group strikes from the 20th to the 22nd, but management has not put forward any additional proposal, leaving the bargaining table closed for more than two weeks. At the 15th round of talks on the 8th, the company offered a 89,000 won increase in base pay, a performance bonus of 350 percent plus an additional 10 million won, and 15 shares of stock. The union rejected the offer, saying it was not acceptable to members.
The union is demanding a 149,600 won increase in base pay, a performance bonus equal to 30 percent of last year's net profit, and an 800 percent bonus payout. It is also seeking an extension of the retirement age to match the timing of national pension benefits, job security measures in response to the introduction of artificial intelligence and robots, and a full monthly salary system, leaving a wide gap between the two sides.
The industry estimates that the first two strikes already halted production lines for about 36 hours, causing an estimated 700 billion won in lost output. If the third strike goes ahead as planned, the cumulative damage is expected to exceed 1 trillion won.
[email protected] Kim Dong-chan Reporter