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Hyundai, Kia Workers Launch Strikes
Workers at Hyundai Motor Co. and affiliate Kia Motors Corp. will conduct strikes this week to protest the "imperial management" style of Chairman Chung Mong-koo.
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Workers at Hyundai Motor Co. and affiliate Kia Motors Corp. will conduct strikes this week to protest the "imperial management" style of Chairman Chung Mong-koo.
Unions at both companies are upset by an agreement between the two carmakers and partsmaking affiliate Hyundai Mobis to invest 10.6 trillion won ($10 billion) on a new headquarters complex in Seoul.
The unions had tentatively agreed on a new wage pact. But they have now rejected the deal and suspended further negotiations. The unions say the land bid shows both companies have an "abundance of cash" and say at least some of those funds should be spent on workers.
Hyundai's union workers will strike from today through Friday. Kia workers will begin a three-day walkout on Wednesday.
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