Unionised workers at Hyundai Motor in S. Korea to refuse overtime work from next week

Seoul, June 26: Unionised workers at Hyundai Motor in South Korea have decided to refuse to work overtime on Saturdays from July 6, as they failed to narrow differences with the company in wage talks, the union said on Wednesday. The 43,000 strong union has made the decision to put pressure on the company while planning to participate in the ninth round of wage talks on Thursday, a union spokesman said over the phone.

Hyundai Motor's union has recently obtained the rights to go on strike if necessary after nearly 90 per cent of its members voted on Tuesday for the industrial action to demand higher wages, reports Yonhap News Agency. The union demanded an increase of 159,000 won ($114) in basic monthly salary per worker, 30 per cent of net profit earned in 2023 in performance based pay, cash bonuses equivalent to nine months of salaries, the adoption of a four-hour working system on Fridays, and the extension of the retirement age from 60 to 64.

But the company suggested an increase of 101,000 won in basic salary, 3 1/2 months of salaries plus 4.5 million won in performance pay, one month of salary in incentives, and 20 Hyundai stocks. Hyundai workers may stage a strike unless the company comes up with revised proposals, the spokesman said