Hyundai Motor workers have intensified their strike action this week after the union failed to reach a wage agreement with the automaker. Following a three-day partial strike last week that halted production for two hours per shift and may have cost up to 5,000 vehicles worth about KRW 200 billion, workers began a second week of partial strikes from July 20 to 22 with stoppages doubled to four hours per shift. Management offered a KRW 89,000 basic monthly salary increase, a performance bonus of up to 350% of monthly salary, an extra KRW 10 million bonus, and 15 company shares per worker, but the union rejected it. The union is demanding a KRW 149,600 monthly salary increase, bonuses equivalent to 800% of salary, job security guarantees related to the company's plans to deploy humanoid robots, and raising the retirement age from 60 to 65.
Hyundai Motor Co. Ltd.Workers escalated strike to longer stoppages, halting production and costing up to 5,000 vehicles worth KRW 200 billion.