Hyundai Motor union launches three-day partial strike, demanding pay raises and extension of retirement age
The Hyundai Motor union in South Korea has announced a partial three-day strike this week to push for demands including higher wages, shorter working hours, and an extension of the retirement age.
According to a statement on the union's official website, 42,000 union members will stop work for two hours each on Wednesday and Thursday, and for four hours on Friday. This action is a further step after the latest round of collective bargaining on Tuesday failed to reach an agreement.
The union stated that although management has proposed increases in base salary, bonuses, and some benefits, the core demands have not yet been met. Previously, the union had put forward the following requests:
- An increase in the basic monthly salary by 141,300 won (approximately 101 US dollars);
- 30% of last year's net profit to be used for special performance bonuses;
- Shorten the workweek to 4.5 days;
- Extend the retirement age from 60 to 64 years old.
In a strike vote held last week, 86% of voting members supported the strike, providing authorization for this action.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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