Hyundai union announces longest strike in 10 years

The trade union of the South Korean concern Hyundai Motor has scheduled a strike for Friday after unsuccessful negotiations with the management on salary issues. The strike is taking place at factories in Ulsan, Chongju and Asan. It will be the longest since 2016, and about 39,000 employees will take part in it, Yonhap news agency reported on August 21.

The strike involves workers working two eight-hour shifts, so it will last 16 hours in total. Taking into account the previous strikes, the total amount of downtime since May, when negotiations between the Hyundai trade union and management over wages began, will reach 60 hours.

It is expected that the total production losses from the strikes will amount to about 55,000 vehicles, and the lost revenue will exceed 2.3 trillion won (about $1.6 billion). The union intends to continue the pressure on the employer by scheduling additional four-hour strikes early next week.

Hyundai's trade union organization is demanding higher salaries, increased bonuses, reinstatement of those dismissed for union activity and an increase in the retirement age.

At the same time, the Kia trade union also announced preparations for partial strikes. They can take place from the middle of next week and will be the first in six years. Among the requirements are an increase in the base salary and linking bonuses to the company's profits.

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