Market Chatter: Hyundai Motor's Labor Union to Carry Out Four-Day Partial Strike Over Wages Dispute

MT Newswires Live

Aug 12

Hyundai Motor's (KRX:005380) 40,000-member labor union plans to carry out a four-day partial strike this week after it couldn't reach an agreement with the automaker in a dispute over wages, The Korea Times reported Tuesday.

The union said it will hold four-hour strikes on Wednesday and Thursday, followed by six-hour strikes on Friday and Sunday, according to the report.

The union is seeking a 149,600-won increase in monthly base pay and a performance bonus equivalent to 30% of the net profit in 2025. The automaker has offered an 80,000-won monthly base-pay raise, a performance bonus equivalent to 350% of monthly salary plus 10 million won, along with 15 company shares, the report said.

Hyundai Motor did not immediately respond to MTNewswires' request for comment.

Shares of Hyundai Motor added 2% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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The automaker has offered an 80,000-won monthly base-pay raise, a performance bonus equivalent to 350% of monthly salary plus 10 million won, along with 15 company shares, the report said.Hyundai Motor did not immediately respond to MTNewswires' request for comment.Shares of Hyundai Motor added 2% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}