Hyundai Steel Workers Stage Strike over Wages
Hyundai Steel StrikeBusiness Korea

Hyundai Steel Workers Stage Strike over Wages

Yonhap reported that thousands of unionized workers of Hyundai Steel Co began a walkout Wednesday to demand higher wages and bonuses amid the

Yonhap reported that thousands of unionized workers of Hyundai Steel Co began a walkout Wednesday to demand higher wages and bonuses amid the COVID-19 pandemic. The union said that the workers will go on strike for two days through Thursday, affecting production at five domestic plants of South Korea's second largest steelmaker. The strike by the 8,400 strong unions came after the company and the union failed to narrow differences over wages and bonuses in 15 rounds of negotiations. The union demanded an increase of 120,000 won (USD 109) per person in basic monthly pay, a bonus amounting to three months of salary and 5 million won in special allowance. But the company proposed a freeze on basic pay, a bonus amounting to one month of salary and 1 million won in special allowance.

Still, some 2,000 essential workers did not join the strike as they need to work at three blast furnaces in Dangjin, about 120 kilometres south of Seoul.

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