The Hyundai Motor union has gone on a full strike today for the first time in 10 years, demanding the extension of the retirement age.

With all production lines at the Ulsan, Jeonju, and Asan plants coming to a halt, the cumulative production disruption for this year is estimated to exceed 55,000 vehicles.

In this year's wage negotiations, the Hyundai Motor union is demanding a 50 percent increase in bonuses, the reinstatement of dismissed workers, and the extension of the retirement age to 65.

In particular, labor and management are sharply at odds over the extension of the retirement age.

The union maintains that, given past instances where the retirement age was extended through labor-management agreements, the retirement issue can be resolved through negotiations this time as well.

On the other hand, the company has expressed reluctance, arguing that the extension of the retirement age is an issue whose institutional direction should be determined first through political and social discussions rather than being decided unilaterally by labor and management of an individual company.

There is also a wide gap between the two sides regarding the bonus increase and the reinstatement of dismissed union members.

The union argues that fixed wages such as base pay account for only 54.8 percent of total wages, forcing workers to rely on overtime and special work to maintain a living wage, and therefore bonuses must be increased by 50 percent.

The union also asserts that, with the company's retained earnings exceeding 101 trillion won as of last year, it can easily afford the costs associated with the bonus increase and retirement age extension.

Labor and management have been holding wage negotiations since last May, but have failed to find common ground.

Negotiations resumed on August 18 after a hiatus of some 40 days, but they ultimately failed to narrow their differences, leading the union to launch an 8-hour full-day strike today.

This full strike by the Hyundai Motor union marks the first time in 10 years since 2016.

As the morning and afternoon production shifts each strike for 8 hours, the production lines at the Ulsan, Jeonju, and Asan plants will be completely halted for a total of 16 hours.

Approximately 39,000 union members, including office workers, are participating in the strike.

The automotive industry estimates that Hyundai Motor's cumulative production disruption will exceed 55,200 vehicles, with revenue losses surpassing 2.3 trillion won.

The union has also announced partial strikes of 4 hours each on August 24 and 25, and plans to discuss further strike action on August 25 if the management fails to present a new negotiation proposal.

Reported by Kim Minjeong | Video by Lee Dain | Graphics by Yang Hyemin | Produced by SBS Digital News