Beruflich Dokumente
Kultur Dokumente
24/12/2009
The agreement is yet another success for Hyundai which is widely expected to report a record
profit this year. Hyundai has been a source for labor strikes in Korea, with its union, the
countries largest, going on strike every year except for one since it was set up in 1987. Today,
investors pushed Hyundai’s stock 3.9% higher, extending year-to-date gains to a remarkable
206%.
Under the wage plan, basic salaries will remain frozen while the company will make a one-time
payout of the equivalent to three months of average salary and 40 Hyundai shares to workers.
Hyundai’s new union leader Lee Kyung Hoon has refrained from involving his union in labor
conflict linked to political issues such as a free trade deal since his election last September.
Investors will certainly welcome Lee’s leadership if Hyundai can continue to avoid output
disruptions due to labor disputes next year.
Reader Comments
DanTe
Move some production out of Korea and the militant unions will start to learn. If not, just move it
all out of Korea. Wait until the union imbeciles starve to death. Then bring back the production.
Repeat as needed - depending on how slow in the head these workers are.
Strategery
Wrong again, DanTe. Hyundai has record profits AND a strong union... They do well because
they make good vehicles at great prices. I blame management and poor government policies
(specifically trade) for the demise of US automakers...
C. H. Ng
LadyRebel55
We only have a Sonata building factory in America. We need more jobs here. Hyundai would be
very welcome in the U.S. I agree with DanTe. We lost our jobs to lower priced workers overseas.
Now the tables are turning.