The first negotiation between Hyundai Motor’s management and labor union since the union secured the right to strike will begin on the afternoon of the 27th at 2 PM. Previously, the union had declared a breakdown in negotiations after the 17th round of talks on the 13th and resolved to strike. A strike approval vote was conducted among all members on the 25th, resulting in a 90% approval rate from voters. The Central Labor Relations Commission also decided to halt mediation, securing the union’s legal right to strike.
This negotiation was initiated at the request of Hyundai Motor’s CEO, Lee Dong-seok, amid these circumstances. In a statement released the previous day, CEO Lee stated, “For a new 50, 100 years of Hyundai Motor, it is time for management and labor to come together again for dialogue, negotiation, and wisdom.” He added, “Today, the company requested the resumption of collective bargaining with the union.”
The outcome of the 18th round of negotiations is expected to have a direct impact on whether the union will proceed with a strike. The union plans to hold a meeting of its Central Struggle Committee to discuss the possibility and schedule of a strike, with the committee’s launch ceremony set for the 28th. If the union indeed goes on strike, it would be the first time in seven years.
The union’s demands include a base salary increase of 141,300 KRW (excluding automatic pay grade increases), a bonus payment worth 30% of last year’s net profits, the inclusion of various allowances in ordinary wages, and the increase or addition of allowances based on job groups and roles. They are also demanding the extension of the retirement age from the current 60 to the end of the year before receiving a national pension (up to a maximum of 64), the introduction of a 4.5-day workweek, and an increase in bonuses from the current 750% to 900% of ordinary wages.