Overview
- The Hyundai Motor labor union approved a strike plan in a vote that passed by wide margins, with roughly 94 percent turnout and about 86–92 percent of members backing the action according to union statements.
- The union is demanding a 149,600‑won monthly base raise, a performance bonus equal to 30 percent of last year’s net profit, higher regular bonuses, an extended retirement age up to 65, and stronger job‑security protections for automation.
- Company leaders reject the package as unaffordable, pointing to a roughly 19.5 percent drop in operating profit last year and estimates that a 30 percent net‑profit payout would cost the firm multiple trillion won.
- The union’s legal position is strengthened by the March passage of the Yellow Envelope Act and by Samsung Electronics’ recent profit‑linked bonus deal, both of which shift precedent toward allowing profit distribution to be argued as a legitimate labor issue.
- A state labor relations committee is expected to decide imminently whether to suspend mediation between labor and management, and a suspension would clear the way for a lawful Hyundai walkout.