Kia and Hyundai Mobis Join Hyundai Strike Threat, Raising Production Concerns

Following Hyundai Motor Company, Kia and Hyundai Mobis are showing signs of a potential strike, raising concerns about production disruptions across the Hyundai Motor Group. The Metal Workers' Union has announced plans for partial strikes on August 20-21, targeting automotive companies, including those within the Hyundai Group.

According to industry sources on August 13, the Central Countermeasure Committee of the National Metal Workers' Union issued a strike guideline on August 12. The strikes will involve companies that have secured the right to strike but have not reached an agreement during negotiations. On August 20, all shifts at these facilities will participate in strikes lasting over four hours.

On the following day, August 21, all shifts at completed vehicle plants will strike for over six hours. On the same day, union members from both completed vehicle and parts companies will hold a protest rally in front of the Hyundai Group headquarters in Seoul. The 'Hynix Unified Labor Union' has officially launched at SK Hynix, encompassing both production and technical office workers. Amid ongoing challenges in wage and collective bargaining negotiations due to differing views on performance bonus payments, the emergence of this independent union is expected to shift the dynamics of labor negotiations.

As of August 13, the SK Hynix Unified Union received official certification from authorities, marking its formal establishment. The union currently has over 2,400 members, surpassing the membership of the existing technical office workers' union.

SK Hynix is currently engaged in wage and collective bargaining negotiations with its three existing unions representing all employees (in Icheon and Cheongju) and technical office workers. LG Energy Solution's average utilization rate at its domestic and international production facilities has rebounded in the first half of this year compared to the previous year.

According to LG Energy Solution's semi-annual report released on August 13, the company's production capacity for the first half of the year reached 27.954 trillion won, with an average utilization rate of 52.8%. This marks a 5.2 percentage point increase from last year's annual average utilization rate of 47.6%.

The average utilization rates for LG Energy Solution's production facilities were 73.6% in 2022, 69.3% in 2023, 57.8% in 2024, and 47.6% in 2025, showing a decline for four consecutive years. This year, attention is focused on whether the company can achieve an annual rebound due to the transition of production lines to batteries for energy storage systems (ESS) and the recovery of electric vehicle demand. Korea Development Bank has selected Korea Investment Holdings as the preferred bidder for the sale of KDB Life. This marks Korea Investment Holdings' first foray into the insurance industry.

On August 13, the Industrial Bank held an investment review committee meeting and designated Korea Investment Holdings as the preferred bidder for KDB Life. The sale involves 116.32 million common shares held by the bank, representing approximately 99.75% of the company.

In the main bidding that closed on August 7, Korea Investment Holdings, Hanwha Life, and Heungkuk Life participated. It is reported that Korea Investment Holdings proposed to inject up to 1 trillion won into KDB Life after the acquisition. Specific details regarding the acquisition price and capital increase conditions have not been disclosed. Nexon achieved a record revenue of 2.56 trillion won in the first half of this year, marking its highest performance for a half-year period. Both the first and second quarters exceeded revenue, operating profit, and net profit forecasts. The expansion of the 'MapleStory' franchise and the global success of 'Ark Raiders' drove this growth.

On August 13, Nexon reported that its revenue for the first half of 2026 was 2.56 trillion won (approximately 2.733 billion yen, with an average exchange rate of 936.8 won per 100 yen), with an operating profit of 837.9 billion won (approximately 894 million yen) and a net profit of 813.7 billion won (approximately 869 million yen). Compared to the same period last year, revenue and operating profit increased by 17% and 13%, respectively, while net profit surged by 102%. All figures represent record highs for a half-year period.

In the second quarter, revenue reached 1.139 trillion won (approximately 1.211 billion yen, with an exchange rate of 940.7 won per 100 yen), with an operating profit of 294.3 billion won (approximately 313 million yen) and a net profit of 278.8 billion won (approximately 296 million yen).