Hyundai Motor Company requested on June 29 to resume negotiations with the labor union, which has secured the right to strike.
According to the automotive industry, Hyundai Motor CEO Choi Young-il visited the union office on the morning of the same day to express the company's desire to restart negotiations that were halted after the union declared a breakdown in talks on June 12.
With the company's request to resume negotiations, it is expected that the company's proposed negotiation plan will be presented at the bargaining table for the first time. In the previous 11 rounds of negotiations, the company did not offer any substantial proposals.
This request to resume negotiations comes as both sides aim to quickly establish a plan to navigate the deteriorating business environment. CEO Choi reportedly conveyed to the union that, following a decline in operating profit last year and poor performance in the first half of this year, it is essential to conclude negotiations and focus on production.
In response, Lee Jong-cheol, head of the Hyundai Motor union, emphasized the need for a fair distribution of results for the hard work of union members.
Negotiations are expected to resume as early as this week, following customary practices.
Meanwhile, the union has previously demanded an increase in the monthly base salary by 149,600 won (excluding seniority raises), a performance bonus equivalent to 30% of last year's net profit, and guarantees for employment and working conditions related to artificial intelligence (AI).
Other demands include the implementation of a full monthly salary system, an increase in bonuses from 750% to 800%, a reduction in working hours without increasing labor intensity, an extension of retirement age linked to the national pension eligibility (up to 65 years), and the hiring of new personnel.
* This article has been translated by AI.
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