[Apha Biz=(Chicago) Reporter Paul Lee] With wages and collective bargaining by Hyundai Motor's labor and management nearing the end of this year, the union has signaled a strike.

According to industry sources on the 8th, Hyundai Motor's labor union held a dispute committee meeting on the 7th and decided to strike for four hours each from the 13th to the 14th. If it actually strikes, it will be the first strike in five years in relation to the wage and collective agreement.

Hyundai Motor's labor and management have continued their main negotiations 21 times since June when the meeting was held for wage and collective agreement. However, it has not been able to narrow the gap on a number of pending issues, including the size of the wage increase.

In negotiations the previous day, the management proposed a second wage hike, which includes an increase of 106,000 won in basic salary and 350 percent + 8.5 million won in performance (excluding 4 million won in special incentives paid in March this year and 10 shares), but the union refused to accept it.

Other issues, such as extending the retirement age, paying bonuses, raising allowances, stabilizing employment and hiring new employees, are also under discussion, but there are no results.

The union plans to continue negotiations on the sidelines of the strike.

The union will hold its next dispute committee meeting on the 14th to discuss additional strike schedules.

 

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