Hyundai Expecting Massive Strike in Korea

Bad Omen for Hyundai 1 photo
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.'"
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