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Hyundai’s Union Re-Elects Militant Past President
Hyundai Motor Co.’s labor union has elected a president who led the company’s workers through two years of contentious strikes nearly a decade ago.
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Hyundai Motor Co.’s labor union has elected a president who led the company’s workers through two years of contentious strikes nearly a decade ago.
Park You Ki will take over as union president as contract talks are being completed later this month. During his previous term in 2006-2007, violent strikes cut production by 118,300 units worth 1.6 trillion won ($1.4 billion).
Hyundai, which negotiates a new labor contract each year, has endured strikes in 25 of the 29 years since the union was formed, Bloomberg News notes. Hyundai estimates those walkouts slashed its output by a combined 1.4 million vehicles worth 16 trillion ($14 billion).
Analysts say Hyundai, where profits have been slipping over the past seven quarters, will be specially keen to avoid any major disruptions in the current round of bargaining.
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