/ 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!

2015 Geneva motor show LIVE: VW’s Passat crowned as 2015 Car of the Year
2015 Geneva motor show LIVE: VW’s Passat crowned as 2015 Car of the YearGermany’s Volkswagen Passat, finishing in front of the runner-ups Citroen C4 Cactus and Mercedes-Benz C-Class, has won the ...
Race promoters wanted helmet change ban – Wolff
Race promoters wanted helmet change ban – WolffMar.2 (GMM/Inautonews.com) Toto Wolff has defended the controversial banning of mid-season driver helmet livery changes. After ...
US: automobiles are aging more gracefully now
US: automobiles are aging more gracefully nowThe US auto industry is receiving another sign that its recovery will survive in the long-term: the feared average age of cars on ...
Hyundai Santa Cruz pickup concept hints at new developemnt directions
Hyundai Santa Cruz pickup concept hints at new developemnt directionsHyundai researchers have turned to customers to gain insight into what the South Korean brand needs to build up on the success of ...
Recall roundup: Dodge Durango and Jeep Grand Cherokee for fuel pump problems
Recall roundup: Dodge Durango and Jeep Grand Cherokee for fuel pump problemsFiat Chrysler Automobiles (FCA) has announced a recall covering the Dodge Durango and Jeep Grand Cherokee because of an issue ...
Jeep Wrangler Rubicon Rocks Star shown ahead of Geneva debut
Jeep Wrangler Rubicon Rocks Star shown ahead of Geneva debutThe Jeep Wrangler Rubicon Rocks Star has been officially unveiled ahead of its public debut scheduled for the 2015 Geneva Motor ...
FCA changes Jeep’s Made in America business model
FCA changes Jeep’s Made in America business modelWith the addition of new factories that would allow the brand’s vehicles to be manufactured on four continents, Jeep's annual ...
Recall roundup: Cadillac ATS and Chevrolet Impala for two separate issues
Recall roundup: Cadillac ATS and Chevrolet Impala for two separate issuesThe NHTSA has added two recalls from General Motors for the Cadillac ATS and the Chevrolet Impala because of two separate ...
Leaked – Renault Clio RS Trophy
Leaked – Renault Clio RS TrophyThe new range-topping version of the Renault Clio, the Clio RS Trophy, has recently leaked in two images ahead of its official ...
Recall roundup: Can-Am Spyder for potential fire risk
Recall roundup: Can-Am Spyder for potential fire riskThe Can-Am Spyder RT is the subject of a recall which has been recently announced Bombardier Recreational Products because of a ...
Ford’s Flex is that oddball US model
Ford’s Flex is that oddball US modelThe nameplate is carried by a model with an utterly distinctive look, unlike any other Ford model, and also has good reliability ...
Seat teasing its first crossover concept for Geneva
Seat teasing its first crossover concept for GenevaSeat has released the first official teaser of the crossover concept which will be officially presented to the public tomorrow, ...
Geneva motor show: talk of the town could be focused on rumored Apple car
Geneva motor show: talk of the town could be focused on rumored Apple carThe Geneva auto show is shaping up so far to be one of the best editions since the onset of the global financial crisis back in ...
US: auto sales show promising winter start
US: auto sales show promising winter startNew car and truck deliveries on the US market have surpassed the frigid winter to a stronger than expected sales figure, with the ...
This is the Carrozzeria Touring Superleggera Berlinetta Lusso
This is the Carrozzeria Touring Superleggera Berlinetta LussoThe Carrozzeria Touring Superleggera Berlinetta Lusso has ended up on the web in the first leaked images ahead of its public ...
Read more automotive news


2015 Geneva Motor Show Coverage

2015 Car of the year live Geneva 01
Jeep Wrangler Rubicon Rocks Star 1
renault clio rs trophy 1
Carrozzeria Touring Superleggera Berlinetta Lusso 1
jaguar f-type startech tuning 1
2016 honda civic type r 1
2015 volkswagen passat abt tuning 1
2016 audi r8 spyder 1
Mercedes-Benz G63 AMG posaidon tuning 1
skoda superb rs 1
Renegade Hard Steel Concept 1
lexus lf-sa concept 1

More automotive from inautonews
Germany’s Volkswagen Passat, finishing in front of the runner-ups Citroen C4 Cactus and Mercedes-Benz C-Class, has won the well-known and prestigious car of the year award for the European region. The award was presented in front of a large audience at the Geneva motor show, with the German ...
read more
Inautonews Editors Section
Geneva Motor Show 2015 – the full car guide
Geneva Motor Show 2015 – the full car guideIt can only get bigger and better. The 85th International Motor Show in Geneva will finally make its “carsy” debut on the 3rd of March. The show ...
Test Drive: Ford Tourneo Courier 1.0 EcoBoost – Serenity
Test Drive: Ford Tourneo Courier 1.0 EcoBoost – SerenityFord has been battling losses for years in its Ford of Europe business, but judging by the model lineup of the second largest US automaker you would ...
Test Drive: Renault Megane GT Line Energy 1.2 TCe
Test Drive: Renault Megane GT Line Energy 1.2 TCe Besides the Megane GT Line diesel, tested here, Renault is also offering a petrol version of the model which is using the 1.2-liter turbo. But is ...

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 Recall roundup: Dodge Durango and Jeep Grand Cherokee for fuel pump problemsFiat Chrysler Automobiles (FCA) has announced a recall covering the Dodge Durango and Jeep Grand ... Recall roundup: Cadillac ATS and Chevrolet Impala for two separate issuesThe NHTSA has added two recalls from General Motors for the Cadillac ATS and the Chevrolet Impala ...
Safety Section