The South Korean government is considering arbitrating in a month-long dispute between Hyundai Motor and its union, as the impact of the prolonged strike begins to be felt across the whole economy, Dow Jones, reported, citing the internet news provider Edaily.
Go deeper with GlobalData
The report said that, in a government policy meeting held early on Wednesday, the government discussed the possibility of exercising its emergency mediation right for Hyundai Motor if the company’s management and union fail to reach an agreement by early August.
The report added that, under the emergency mediation, the union must stop any strike actions for a month, while the government arbitrator – the National Labor Relations Commission – must finalise the contested issues and deliver its decision within that period.
Dow Jones noted that 39,000 unionised workers of Hyundai Motor’s total 50,000 employees have continued partial or general strikes intermittently since June 27 for higher wages and salary compensation triggered by the planned introduction of a five-day work week.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
