Hyundai Motor’s unionized workers in South Korea, numbering over 43,000, have voted overwhelmingly in favor of strike action amid stalled negotiations over wage increases and extending the retirement age. The union demands include a significant basic pay raise and a share of Hyundai’s 2023 net profit as performance pay. The potential strike, the first in six years for wage negotiations, could disrupt production of popular vehicles, affecting Hyundai’s exports aimed at offsetting domestic sales declines.
Hyundai Motor Faces Strike Threat as Union Demands Wage Hikes and Retirement Age Extension
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