Strikes loom for Hyundai in South Korea

Union workers want retirement age to be raised

Dani Cole August 25 2023

Union workers at Hyundai Motor have voted for possible strike action, Reuters reports.

Over the last two months there had been talks with the firm over wage increases and raising the retirement age from 60 to 64.

The union is one of the largest in the country and has over 40,000 members.

Strike action was majority approved (almost 90% of workers) unless Hyundai accepted their demands.

These include a minimum basic monthly pay increase of 184,900 won ($139) and performance pay equating to 30% of Hyundai’s 2022 net profit.

If a strike goes ahead, it will be the first time in five years that action like this has been taken in relation to wage negotiations with the automaker.

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