Shares of HD Hyundai Heavy Industries are declining in the latter part of the trading session as union strikes continue.
As of 2:30 PM on September 15, the company’s stock was trading at 453,250 won, down 25,750 won (5.22%) from the previous trading day, according to the Korea Exchange.
The drop in HD Hyundai Heavy Industries' stock price is attributed to concerns over production disruptions following the union's partial strike, which began on September 11, involving four hours of work stoppage each day.
Since June, the company and the union have held 21 rounds of negotiations but have failed to reach an agreement on wage increases and other related issues.
On September 10, during the 20th round of talks, the company proposed a monthly base salary increase of 110,000 won (including a seniority increase of 47,000 won) and a bonus of 10 million won plus 200%. However, the union rejected this offer.
The union plans to continue the four-hour strikes until today and has announced a seven-hour strike from September 16 to 18.
Some analysts suggest that if the two sides cannot narrow their differences during focused negotiations, the strike could extend well beyond the Chuseok holiday. To reach a settlement before Chuseok, a tentative agreement must be reached this week, followed by a vote among union members early next week.
Meanwhile, other shipbuilding stocks are also experiencing declines, with HD Korea Shipbuilding & Offshore Engineering down 6.8%, Samsung Heavy Industries down 5.8%, and Hanwha Ocean down 3.73%.
As of 2:30 PM on September 15, the company’s stock was trading at 453,250 won, down 25,750 won (5.22%) from the previous trading day, according to the Korea Exchange.
The drop in HD Hyundai Heavy Industries' stock price is attributed to concerns over production disruptions following the union's partial strike, which began on September 11, involving four hours of work stoppage each day.
Since June, the company and the union have held 21 rounds of negotiations but have failed to reach an agreement on wage increases and other related issues.
On September 10, during the 20th round of talks, the company proposed a monthly base salary increase of 110,000 won (including a seniority increase of 47,000 won) and a bonus of 10 million won plus 200%. However, the union rejected this offer.
The union plans to continue the four-hour strikes until today and has announced a seven-hour strike from September 16 to 18.
Some analysts suggest that if the two sides cannot narrow their differences during focused negotiations, the strike could extend well beyond the Chuseok holiday. To reach a settlement before Chuseok, a tentative agreement must be reached this week, followed by a vote among union members early next week.
Meanwhile, other shipbuilding stocks are also experiencing declines, with HD Korea Shipbuilding & Offshore Engineering down 6.8%, Samsung Heavy Industries down 5.8%, and Hanwha Ocean down 3.73%.
* This article has been translated by AI.
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