Hyundai Motor Labor Talks Fail Mediation; Strike Vote Looms

Mediation efforts between Hyundai Motor's labor union and management have officially broken down, the Central Labor Relations Commission announced on May 25th. The union, dissatisfied with the stalled negotiations, is now preparing to convene its Central Dispute Settlement Committee on May 30th to deliberate on potential strike actions.

The commission stated that two rounds of mediation meetings were held, but the significant gap in opinions between the labor union and the company made it impossible to present a viable settlement proposal. Hyundai Motor and its union have engaged in 11 rounds of collective bargaining since May 6th, yet they have failed to bridge their differences.

The union's demands include a 149,600 won increase in basic wages, a performance-based bonus equivalent to 30% of the previous year's net profit, an increase in the regular bonus from 750% to 800%, and an extension of the retirement age. However, the company has countered by emphasizing the need to consider last year's performance, the current economic environment, and future investment requirements.

In a significant show of support for potential industrial action, the union recently conducted a strike vote. Out of 39,668 eligible members, 37,348 participated, with an overwhelming 92.03% voting in favor of a strike. The union has scheduled a launch ceremony for its Central Dispute Settlement Committee, where discussions will focus on the direction and plans for potential strike activities. Last year, the union secured a tentative agreement after three rounds of partial strikes.

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This will be a meeting to discuss the direction and plans for a strike.