Hyundai Motor Union Launches Full Strike for First Time in 10 Years Amid Impasse

[Economy 365]

The Hyundai Motor union has gone on a full strike for the first time in 10 years due to difficulties in wage negotiations.

With the union's day and evening shifts each striking for eight hours today (August 21), all production lines at the Ulsan, Jeonju, and Asan plants will be halted for 16 hours.

Approximately 39,000 union members, including production and office workers, are participating.

With this full strike, the union's cumulative strike hours for this year have increased to 60 hours, and production line suspension time to 120 hours.

The industry estimates that cumulative production disruptions will reach 55,200 vehicles, with revenue losses surpassing 2.3 trillion won.

Management and the union have failed to narrow their differences over issues such as a 50% increase in bonuses, the reinstatement of dismissed workers, and the extension of the retirement age.

The union has also announced partial strikes of four hours each on August 24 and 25, and plans to discuss further strike action if a new negotiation proposal is not presented.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.