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Korea's Hyundai, Kia Workers Vote to Strike
Hourly workers at Hyundai Motor Co. and affiliate Kia Motors Corp. in South Korea have voted to authorize strikes at both companies as early as Aug. 20.
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Hourly workers at Hyundai Motor Co. and affiliate Kia Motors Corp. in South Korea have voted to authorize strikes at both companies as early as Aug. 20.
Hyundai says it has asked its unions to resume bargaining. Labor leaders at both carmakers have disclosed that they are seeking a wage increase of 130,500 won ($117) per month and a 30% share of net income.
Hyundai workers have gone on strike during contract talks in 22 of the past 26 years. Last year's job action caused a production shortfall of 82,100 vehicles and lost revenue of 1.7 trillion won ($1.5 billion), making it the most costly in company history.
But unlike the 2012 shutdown of all Hyundai's plants, the union notes that it is now considering a rotating shutdown of factories. Labor officials are scheduled to meet next Monday to discuss whether to go on a full or partial strike.
The company has been trying to squeeze the maximum output from its plants to meet strong U.S. demand. But this spring its workers refused to work overtime on weekends without higher pay for those shifts.
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