[THE INVESTOR]
Hyundai Motor Group’s labor union is set to take industrial action on July 22.
One June 27, Hyundai Motor’s union said that the negotiations led by the Metal Workers’ Union broke down and a group-wide strike will take place on July 22.
According to the unions, the talks fell apart after group companies rejected their call for the seventh round of talks.
The Metal Workers’ Union is a subgroup of the hardline umbrella union Korean Confederation of Trade Unions. The unions of carmakers and shipbuilders are among those included in the Metal Workers’ Union.
The unions’ demands include the formation of a committee for planning for the future of Korea’s automotive, steel and rail industries, and that Hyundai Motor Group chairman
Chung Mong-koo use 20 percent of his dividends to set up a social fund.
By Choi He-suk (
cheesuk@heraldcorp.com)