Photo: cedre.fr
Hyundai (and Kia) have witnessed one of, if not the most substantial rise of any manufacturer, ever. They went from bargain-basement to premium-rivalling in a matter of years (about 4, to be precise), in an unparalleled and unheard-of feat.
Now, though, the man behind Hyundai Motor’s labor union, MoonYong, is threatening with massive strikes and riots if the company still refuses to increase the wages of the union’s 45,000 members by $132 / € 108, as well as returning 30% of the company’s income back to the workers in the form of bonuses.
Moon is also demanding a reduction in in working hours from the current double 12-hour rotational system, to a more reasonable eight-hour shift. The company is definitely taking notice of these threats, as one single day lost due to protests will reduce their overall production figures by 44,645 units - so they had better be weary.
According to James Rooney, the Seoul-based CEO of Market Force Co. (international consulting firm), "This kind of harking back to the past is not helping Korea [. . .] Foreign investors have already got a distorted view of Korea. They think we are a place that has these terrible riots and steel-club wielding people and people setting themselves on fire and stuff like that. And so when they hear about this, it will just be, 'Oh, Korea again.'"
Now, though, the man behind Hyundai Motor’s labor union, MoonYong, is threatening with massive strikes and riots if the company still refuses to increase the wages of the union’s 45,000 members by $132 / € 108, as well as returning 30% of the company’s income back to the workers in the form of bonuses.
Moon is also demanding a reduction in in working hours from the current double 12-hour rotational system, to a more reasonable eight-hour shift. The company is definitely taking notice of these threats, as one single day lost due to protests will reduce their overall production figures by 44,645 units - so they had better be weary.
According to James Rooney, the Seoul-based CEO of Market Force Co. (international consulting firm), "This kind of harking back to the past is not helping Korea [. . .] Foreign investors have already got a distorted view of Korea. They think we are a place that has these terrible riots and steel-club wielding people and people setting themselves on fire and stuff like that. And so when they hear about this, it will just be, 'Oh, Korea again.'"
Google News