South Korean Hyundai Union Could Be Gearing Up for a Strike

Chris Teague
by Chris Teague

Hyundai could be facing a strike in South Korea, as its workers there have demanded pay increases and a change in the retirement age. The company has not seen a strike in the country for several years, which could cause production and delivery headaches for the vehicles produced there.

The union wants a pay increase of around $115 per month and an increase in the retirement age from 60 to 64. According to the union, South Korea’s retirement pensions are inadequate to support aging retirees, necessitating longer working years.

Chang Moonsu, a Hyundai Motors Securities analyst, said, “Hyundai Motor’s union at home has always voted for strike action every year and this year is no different, however, the union might push a bit harder than previous years as the company has been doing well and the pandemic is long gone, so workers would like to push for bigger compensation this time."

Though not inevitable, around 90 percent of the union voted to authorize a strike if Hyundai doesn’t comply. That said, negotiations haven’t yielded progress after eight rounds, making it seem less likely that either side would be willing to give in to the other’s demands. The automaker produces several vehicles in the United States, but a disruption in South Korean operations would impact its electric vehicle efforts here and could slow parts and other component deliveries.

[Images: Hyundai]

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Chris Teague
Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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5 of 17 comments
  • Lou_BC Lou_BC on Jun 24, 2024

    "a pay increase of around $115 per month" UAW might consider expanding to Asia. LOL

    • Bd2 Bd2 on Jun 25, 2024

      They strike pretty much every year, and in addition to those "modest" wages increases (which compound every time they strike), they also demand a pretty hefty increase for the yearly bonus.

      Not uncommon for a senior plant employee to make $100k.

      HMG plants in Korea also have by far the slowest rate of production, and the company has to negotiate with the union if they want to increase/decrease production of a certain model.

  • Bd2 Bd2 on Jun 25, 2024

    Not surprising that Anal already left his footprint here - posting 3 times, including trying to throw the scent off by saying his previous post was by him (Anal) and claiming that I (Bd2) am in Australia, when I'm not (altho wish I were).

    • See 1 previous
    • Bd2 Bd2 on Jun 27, 2024

      Oh, please - anyone with half a clue knows that these insipid rantings are by you - Anal.

  • Fred As a British Car Fan I liked them, but then I sat in one and changed my mind. I like the unique looks of the newer ones.
  • FreedMike Not much to look at, but these were sweet to drive.
  • EBFlex Ford finally making a good decision although they should shut down their EV operations and investment all together. Why lose that money too?
  • Mike Lol. This is the king of suvs. And its made by GM.Why is everyone trashing it?Top of its its class for a quarter century.
  • Frank Drove past there last week, plant has a huge poster of a bronco on the outside. I was thinking "Is that where they build the new broncos?" I know they use to make the Edge and that other mundane SUV there but I believe both have been canned.