Hyundai Transys has entered an emergency management system to normalize the company following the end of the strike.
Hyundai Transys announced through an internal bulletin board on the 11th that it would implement an emergency management system, which includes returning 20% of the salary of all executives, including the CEO.
In the statement, President Yeo Su-dong of Hyundai Transys said, “The suspension of the plant’s operation over the past month has caused significant damage to our customers, partners, employees, and the company. We’ve taken a serious hit to our most important growth driver, customer trust. This is the greatest crisis since the company’s founding,” conveying the seriousness of the management crisis.
He continued, “A little more effort alone will not overcome this crisis, so as of today, we are entering an emergency management setup. The management, including myself, fully acknowledges the responsibility for this grave situation and has agreed to voluntarily return 20% of their salaries,” he stated.
He further added, “With efforts akin to cutting through bone, we will restore customer trust and protect our future. I am confident that if we all come together with one heart, we can surely overcome this crisis,” urging participation in overcoming the crisis.
On the 9th, the Hyundai Transys Seosan branch union decided to withdraw the strike that had begun on the 8th of the previous month and had been ongoing for over a month, with all union members agreeing to return to work starting that day.
The company expressed its welcome towards the strike withdrawal and announced that it would finalize negotiations with the union swiftly and normalize plant production.
A representative from Hyundai Transys said, “We will finalize the wage and union negotiations as quickly as possible through concentrated negotiations starting this week.”