/ Hyundai, Industry, Kia, News / South Korea: Hyundai union could strike in August

South Korea: Hyundai union could strike in August

Linked In Share
South Korea: Hyundai union could strike in August

In a concerted move, all labor unions at Hyundai and its 14 affiliates plan a walkout in August if the company doesn’t fulfill their wage increase demands.

Lee Kyung Hoon, union leader at Hyundai Motor, was joined in the stance by 19 other union chiefs from the 14 affiliates in the Hyundai Motor Group. According to Lee, the workers at the largest automaker in the country – including those of Kia Motors – would strike beginning with Aug. 18.

The main issue between the company and the unions is concerning the inclusion of corporate bonuses into the base wage scheme, as per the country’s Supreme Court decision that periodic bonuses and other payments should be a part of the base compensation.

“Chairman Chung Mong Koo should immediately acknowledge bonuses as regular wages,” Lee said. “We’ve heard of the difficult economic situation and of the unfavorable foreign exchange rates, which means that if the company and the union don’t get along we could all perish together.”

According to a forecast of the Korea Employers Federation, if the carmaker’s management concedes to the workers request to lift the base salary, Hyundai could face a 13.8 trillion won ($13 billion) annual hike in overall wage costs – which adds further pressure to the company’s currency concerns.

Via Bloomberg

 

by Aurel Niculescu (my Google+) - Wednesday, July 30th, 2014 - filed under Hyundai, Industry, Kia, News. Image credit: .
Linked In Share
Related Articles
august decision south korea strike union


Discuss: South Korea: Hyundai union could strike in August

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Weekly GM ignition fund update: death toll rises to 50
Weekly GM ignition fund update: death toll rises to 50As of Friday last week, the confirmed number of deaths stemming from the General Motors 2.6 million cars ignition switch recall ...
Japan: Toyota plans worker pay changes to dismiss age gap
Japan: Toyota plans worker pay changes to dismiss age gapToyota Motor Corp., Japan’s largest carmaker and employer and also the world’s biggest automaker, has plans the update its ...
Europe: Honda bids the Accord fair well
Europe: Honda bids the Accord fair wellThe third largest Japanese automaker – Honda Motor – has apparently decided to desert the European midsize segment, giving ...
Germany: driverless project to start on the Autobahn
Germany: driverless project to start on the AutobahnDrivers might soon become optional if a project that is set to commence on the famous limitless German Autobahn becomes ...
Battery supplier: cheap gas won’t change long-term outlook for electric cars
Battery supplier: cheap gas won’t change long-term outlook for electric carsSouth Korea’s Samsung SDI Co Ltd, a company that has specialized in supplying automakers with batteries for electric cars, ...
Alonso ‘an alternative, not a priority’ – Wolff
Alonso ‘an alternative, not a priority’ – WolffJan.27 (GMM/Inautonews.com) Talks to renew world champion Lewis Hamilton's contract are finally looming, Mercedes team boss Toto ...
2015 revival could see Dinnington return for Manor
2015 revival could see Dinnington return for ManorJan.27 (GMM/Inautonews.com) If the former Marussia team survives the winter, it will have to house itself elsewhere. That is ...
Only Mercedes, Williams to test 2015 engine at Jerez
Only Mercedes, Williams to test 2015 engine at JerezJan.27 (GMM/Inautonews.com) Nine weeks after the 2014 finale, formula one is now counting down the mere days before the ...
Porsche 918 Spyder gold chrome finish
Porsche 918 Spyder gold chrome finishA weird gold chrome finish has been added to an impressive supercar, the Porsche 918 Spyder, a good recipe for attracting a lot ...
[VIDEO] Lamborghini Aventador Roadster vs. AMS McLaren MP4-12C
[VIDEO] Lamborghini Aventador Roadster vs. AMS McLaren MP4-12CThe Lamborghini Aventador Roadster and the McLaren MP4-12C have been recently put together in an impressive drag race. Earlier ...
[VIDEO] Ferrari LaFerrari vs. Porsche 918 Spyder vs. McLaren P1 by Top Gear
[VIDEO] Ferrari LaFerrari vs. Porsche 918 Spyder vs. McLaren P1 by Top GearTop Gear Magazine has recently placed the hottest supercars money can buy these days against each other. The Ferrari LaFerrari, ...
Jeep Renegade’s pricing leaked
Jeep Renegade’s pricing leakedThe U.S. pricing of the Jeep Renegade has recently leaked out and it seems that the crossover will start from 17,995 USD, on its ...
Audi RS3 Sportback – new images released
Audi RS3 Sportback – new images releasedA new set of images with the recently unveiled Audi RS3 Sportback has just hit the web. One of the most interesting hot hatches ...
Tips for fuel-efficiency driving during winter conditions
Tips for fuel-efficiency driving during winter conditionsEven though the gas bills are nowhere near the level they were last winter, especially in the US – where a gallon of gas can be ...
Chevrolet Cruze facelift caught on camera
Chevrolet Cruze facelift caught on cameraOur spy photographers have managed to capture the facelifted version of the Chevrolet Cruze, on camera, while it was being tested ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

porsche 918 spyder gold chrome 1
Fahraufnahme    Farbe: Sepangblau
Spy-Photo
Spy-Photo
Liberty-Walk-Lamborghini-Huracan tuning 1
audi q6 render 1
Ferrari F12 Berlinetta Tour de France 64 1
Peugeot RCZ R Bimota 1
2015 honda cr-v 1
2015 Brussels Motor Show Dream Cars 96
Spy-Photo
02-Bike-Sense-cyclist-in-window

More automotive from inautonews
As of Friday last week, the confirmed number of deaths stemming from the General Motors 2.6 million cars ignition switch recall has reached the 50 people mark, which is roughly four times higher than GM’s initial toll. Back in February 2014, General Motors, the No. 1 US automaker, acknowledged ...
read more
Inautonews Editors Section
Tips for fuel-efficiency driving during winter conditions
Tips for fuel-efficiency driving during winter conditionsEven though the gas bills are nowhere near the level they were last winter, especially in the US – where a gallon of gas can be purchased even ...
Is the auto industry ready for the aluminum revolution?
Is the auto industry ready for the aluminum revolution?While the fact that a vehicle can have aluminum body has come to widespread attention ever since Ford announced that its best-selling F-150 truck has ...
NAIAS 2015: the best and worst
NAIAS 2015: the best and worstThe 2015 North American International Auto Show is the perfect sign that USA’s auto industry has recovered fully from the brink of collapse that ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Weekly GM ignition fund update: death toll rises to 50As of Friday last week, the confirmed number of deaths stemming from the General Motors 2.6 million ... Euro NCAP: New Skoda Fabia, best in classThe new generation of the Skoda Fabia has been named the safest car in its segment by Euro NCAP, ...
Safety Section