{"id":2011508,"date":"2023-08-24T23:19:01","date_gmt":"2023-08-25T03:19:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hyundai-motors-union-in-south-korea-votes-on-strike\/"},"modified":"2023-08-24T23:25:29","modified_gmt":"2023-08-25T03:25:29","slug":"hyundai-motors-union-in-south-korea-votes-on-strike","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hyundai-motors-union-in-south-korea-votes-on-strike\/","title":{"rendered":"Hyundai Motor&#8217;s South Korean union to vote on strike."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhyundai-motors-union-in-south-korea-votes-on-strike%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2011508&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Hyundai Motor Union \u200cVotes on Strike \u200dAmid Wage Negotiations<\/h2>\n<p>By Heekyong Yang<\/p>\n<p>SEOUL (Reuters) &#8211; Hyundai Motor\u2019s unionised workers in South Korea are facing a crucial \u200bdecision today. They will vote on\u200d whether to hold a\u200c strike after two months \u200dof talks with the company over <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">wage increase<\/a> \u2063and extension of the retirement age stalled last week.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>If the union stages a \u200cstrike, it would mark the first such\u200b action in five years\u200b related to wage \u200dnegotiations at the South\u2062 Korean carmaker, and could disrupt delivery of some popular vehicles which Hyundai has been\u2063 struggling to ramp \u200bup due to prolonged \u200ccomponent shortages. <\/p>\n<p>The union, one of the biggest in the country\u2062 with \u200babout 40,000 members, is \u200dseeking a minimum \u2062basic monthly pay increase\u200d of \u200c184,900 won ($139) and a performance pay equating to\u200d 30% of Hyundai\u2019s 2022 \u200bnet profit. It \u200cis also demanding Hyundai\u2019s\u2064 management to raise\u2062 the retirement age to 64 from\u2062 60.<\/p>\n<p>The\u200c voting result is expected at around 6 p.m. (0900 GMT), \u2062a union official at Hyundai\u2063 Motor told Reuters, adding that the union will continue working-level \u2064negotiations with\u2063 the management regardless\u200d of the vote.\u2062 <\/p>\n<p>Hyundai Motor did not immediately\u200c respond to Reuters request for comment. \u200d <\/p>\n<p>Experts noted that South Korea\u2019s rising life expectancy \u2062and weaker social safety \u2062net, such as retirement pension, have attributed to workers\u2019 demand to raise the retirement age. <\/p>\n<p>\u201cSouth\u200b Korea has relatively low pension \u200d<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japanification-how-americas-economy-could-see-a-permanent-decline\/\" title=\"\u2018Japanification\u2019: How America\u2019s Economy Could See A Permanent Decline\">replacement rates<\/a>, compared\u2063 to other advanced \u2063countries in Europe. While those advanced European countries have replacement rates at about\u2064 60-70%,\u200d South Korea\u2019s rate practically stands at about 30%, which make it difficult for people to replace their pre-retirement \u200dwages,\u201d said Park Ji-soon,\u2064 a professor \u2064specialized in social\u200c security law at Korea University\u2019s School \u200cof Law. <\/p>\n<p>Unionised workers \u200bat\u200d Hyundai in South Korea held a four-hour strike for one day \u2062in July in \u2062support of its umbrella\u200b union\u2019s general strike, but it \u2063was not related\u200b to\u2062 the union\u2019s wage negotiations with the management. <\/p>\n<p>Analysts said \u200cthe union would likely <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hyundai-motors-union-in-south-korea-votes-on-strike\/\" title=\"Hyundai Motor's South Korean union to vote on strike.\">avoid prolonged industrial action partly due<\/a> to\u200b unfavourable public sentiment,\u200c as the auto industry \u200bremains one of few bright spots \u2063in the country\u2019s sluggish \u200ceconomy.<\/p>\n<p>\u201cWe\u2062 are not expecting \u2062the strike to last too long even\u200d if the union does stage a strike, however, \u200cif the strike\u200c lasts longer than three \u200cdays, which could\u2064 be viewed as about 10% of Hyundai\u2019s monthly output, it could visibly disrupt Hyundai\u2019s operations,\u201d said Kim Jinwoo, an analyst at \u200dKorea \u2062Investment &#038;\u200b Securities<\/p>\n<p>Shares in Hyundai Motor were trading down 0.1%, \u200bversus the benchmark\u2063 KOSPI\u2019s \u200d0.6%\u200b fall\u200c as at 0234\u200d GMT. <\/p>\n<p>($1 = 1,328.0600 won)<\/p>\n<p>  (Reporting by Heekyong YangEditing by Shri Navaratnam snd \u2062Michael Perry)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/hyundai-motors-union-in\/attachment\/file-photo-iaa-mobility-2021-show-in-munich-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Other News:<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Former President Donald Trump was the talk of\u200c the country Wednesday evening after his viral interview with former Fox News host Tucker Carlson.\u2063 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Paws of \u200cWar is a non-profit, charitable \u2063organization that assists \u200bmilitary\u2062 members and their \u200bpets. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>45th President Donald Trump is set to turn himself in and \u2063will\u00a0 be processed at the Fulton \u200cCounty jail, in the\u200c Georgia 2020 election case. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Dawn Chmielewski\u2064 and Helen \u200cCoster (Reuters)\u2064 &#8211; Warner Bros Discovery said on Thursday it was \u200dadding a new offering to its Max\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Investors \u2062with short position on Nvidia lost $826 million in mark-to-market\u2063 losses on Thursday, data from analytics firm\u2063 S3 Partners\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u200c\u2013 Meta Platforms on Thursday said it \u200dwould release \u200ban\u2064 artificial intelligence (AI) model\u200b designed to assist in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/slack-gpt-artificial-intelligence-is-coming-to-workplace-messaging-platform\/\" title=\"AI is coming to Slack messaging platform.\">writing computer code<\/a>,\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Tatiana Bautzer NEW YORK (Reuters)\u2063 &#8211; Citigroup has acquired \u2062a stake in Peruvian foreign exchange startup \u2064Rextie, its first fintech \u200dinvestment\u2026 \u200d <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hyundai Motor&#8217;s South Korean unionized workers will vote on a potential strike after failed negotiations with the company regarding wage increase and retirement age extension. This strike, if approved, would be the first of its kind after two months of discussions.<\/p>\n","protected":false},"author":66,"featured_media":2011509,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2011508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2011508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2011508"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2011508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2011509"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2011508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2011508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2011508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}