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Seoul Threatens to Intervene in Hyundai Labor Strike
South Korea’s government says it may step in to resolve a general strike that began on Monday against Hyundai Motor Co.
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South Korea’s government says it may step in to resolve a general strike that began on Monday against Hyundai Motor Co.
Labor Minister Lee Ki-kwon says the government will consider “all possible measures” to end the walkout. He reiterates the carmaker's claim that the strike already has cost 121,200 units of production worth 2.7 trillion won ($2.5 billion).
Lee estimates the continuing daily cost of the strike at 7,200 units worth 160 billion won ($146 million). He also says the ripple effect among the carmaker’s small- and medium-size suppliers could hinder Korea’s fragile economic recovery.
The Korea Herald notes that labor unrest over a planned merit-based pay scheme for public-sector workers has spread this week to the country’s banks, hospitals and public transport services.
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