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Hyundai, Kia Labor Talks Stall
Union negotiators have walked out of contract talks with Hyundai Motor Co. and affiliate Kia Motors Corp., complaining that the companies aren't serious about reaching a new one-year agreement.
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Union negotiators have walked out of contract talks with Hyundai Motor Co. and affiliate Kia Motors Corp., complaining that the companies aren't serious about reaching a new one-year agreement.
Labor officials at Kia have called a strike vote on Aug. 13. Hyundai's union is threatening to take a similar vote the same day.
Hyundai and its union have held 18 rounds of bargaining since talks began in late May. Negotiating at Kia started in early July.
The unions have said they are seeking a monthly wage increase of 130,500 won ($117) and profit sharing equal to 30% of net profit.
Hyundai suffered the most expensive strike in company history last year. The company said it lost more than 1 million units of production and 11.6 trillion won ($10.4 billion) in sales.
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