Hyundai Motor union votes on potential strike for higher wages

Unionized workers of Hyundai Motor began hitting the polls Monday to decide whether to stage a strike amid stalled wage negotiations. The labor union said the vote began at 8 a.m. and will end at 5 p.m., with the outcome of the electronic vote to be released immediately after its closure. The union and management have held 17 rounds of wage talks this year but have yet to narrow their differences over the union's demand for higher wages and performance-based bonuses. The union is demanding a 141,300 won ($102) increase in the monthly base pay per worker and 30 percent of Hyundai's annual net profit to be distributed as performance-based pay. The union is also calling for bonuses worth nine months of salary per worker, up from the current seven and a half months, as well as raising the retirement age from 60 to 64. Hyundai Motor's net income rose 7.8 percent on-year to 13.22 trillion won in 2024. The union said it decided to hold a vote after management failed to present its own proposals. Should more than half of union members vote in favor of a strike, the 42,000-member union will secure tWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times