Seoul (AFP) – The union representing workers at South Korean automaker Hyundai Motor said on Monday it had resumed wage talks with management after staging its first full-day strike in a decade. The action at the country’s largest carmaker on Friday saw around 40,000 employees walk off the job, according to union figures, after discussions over pay and retirement broke down.
They have come against a backdrop of concerns over job security as artificial intelligence transforms South Korea’s automotive industry, a pillar of the Asian nation’s economy. A union representative confirmed to AFP on Monday that talks with management would restart from 2:00 pm. A planned four-hour walkout that day had been scrapped, but one slated for Tuesday may still take place, the representative said.
“We will decide whether to stage a partial strike tomorrow depending on the outcome of today’s negotiations,” they said. The union has demanded a 149,000-won ($108) increase in the basic monthly salary, a 50 percent increase in bonuses, and a hike in the retirement age. The workers have staged a total of 60 hours of strikes this year, causing estimated losses of around $1.6 billion, according to calculations by local news agency Newsis.
Hyundai Motor told AFP that it could not “accept the union’s demands” without a solid legal or rational basis. Hyundai posted record second-quarter revenue of 49.2 trillion won, although operating profit fell 20.8 percent on-year amid weaker sales.
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