Talks of a strike within Hyundai Motor, a pivotal player in the South Korean economy, have been generating buzz. On the 25th, the Hyundai Motor Union announced the results of a vote on strike action among its 44,538 members. Out of these, 39,608 members expressed support for a strike, resulting in a approval rate of 91.76%. Based on this outcome, the union plans to proceed with a legitimate strike once the Central Labor Relations Commission makes a decision to mediate next week.
Talks of a strike within Hyundai Motor, a pivotal player in the South Korean economy, have been generating buzz. On the 25th, the Hyundai Motor Union announced the results of a vote on strike action among its 44,538 members. Out of these, 39,608 members expressed support for a strike, resulting in a approval rate of 91.76%. Based on this outcome, the union plans to proceed with a legitimate strike once the Central Labor Relations Commission makes a decision to mediate next week.
The number of votes in favor of the strike reached 39,608, which accounted for a high rate of 88.93% compared to the total attendance. This was a notably strong approval rate, especially considering the voter turnout of 96.92%. With these results, the Hyundai Motor Union is set to hold a meeting for the Central Strike Strategy Committee and an inauguration ceremony on the 30th to discuss plans regarding the strike.
However, it appears that negotiations are still a possibility before fully committing to the strike. Observers suggest that the union might intend to use the possibility of a strike as leverage in negotiations rather than immediately resorting to a strike. This approach would allow the Hyundai Motor Union to maintain a strong position through the threat of a strike while also leaving room for potential compromise.
The central point of discussion surrounding the strike approval is related to wage and age demands. The Hyundai Motor Union has put forth various demands, including a base salary increase, performance-based bonuses linked to net profits, and raises in allowances and benefits. Additionally, they've proposed linking the retirement age of 60 to the age of receiving national pension benefits, extending it to a maximum of 64 years.
However, the company's response to these demands has not been enthusiastic. Particularly regarding the extension of the retirement age, the company claims that it would be difficult to accept due to social opinion. This highlights the difficulties in the negotiation process.
Having already shown their resolve through participating in a full strike alongside the Metal Workers' Union, the Hyundai Motor Union's decisions in this strike are drawing attention. If the Hyundai Motor Union's strike were to proceed, it would mark a significant event in the context of group negotiations happening for the first time in five years. It remains to be seen what conclusions will be reached during the negotiation process and how the balance between Hyundai Motor's management and labor will unfold.
