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[Alpha Biz=(Chicago) Reporter Paul Lee] According to the Hyundai Steel branch of the South Chungcheong branch of the Korean Metal Workers' Union on the 1st, the branch recently called for a "special labor-management consultation" to the management on the 2nd regarding the payment of special performance bonuses to the group.

The union called for a special labor-management council on special incentives because Hyundai Motor Group paid special incentives only to its affiliates that posted positive results last year.

Hyundai Motor, which achieved its highest-ever performance last year, will give all employees 4 million won in special incentives and 10 shares this month except for two months of employment. Kia also plans to pay 4 million won and 24 shares. However, employees of Hyundai Mobis, Hyundai Rotem, Hyundai Wia, and Hyundai Transys received only 3 million won. In the case of Hyundai Steel, there is no mention yet.

The labor union of Hyundai Steel had been at odds with the management over the payment of special incentives last year. It occupied the president's office of Dangjin Steel Mill for more than four months from the middle of last year, and by the end of the year, it had even suffered production disruptions as it launched a guerrilla strike.

Hyundai Steel posted 275.9 billion won in operating losses in the fourth quarter of last year, but its performance turned to a deficit as the steel market worsened and one-off costs such as suspension of plant operations due to strikes and performance-based bonuses were reflected in the fourth quarter.

 

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