Unionized workers at Hyundai Motor Co. went on partial strike Wednesday, raising worries that a prolonged walkout could deepen woes for the country's largest automaker, which is already facing tough business conditions at home and abroad.
  

The strike came after both sides failed to produce a breakthrough the previous day over a pay raise and other working conditions. This marked the fourth consecutive year a walkout has taken place at Hyundai Motor.
  

The strike started with morning-shift workers at plants across the country laying down their tools at 6:50 a.m. for a four-hour strike. Another four-hour strike is scheduled in the afternoon.
  

Such a twice-a-day partial strike will continue on Thursday, and on Friday, just before the start of the Chuseok holiday, a 6-hour strike will be held in the morning.
  

The labor union will hold a meeting on Oct. 1 to determine its future plan, company and union officials said.
  

Labor disputes are increasing woes for Hyundai Motor, which is struggling with slumping demand at home and abroad. Sales have been falling in the face of fierce competition and the overall downturn in emerging markets including China.
  

Market observers estimated that the three-day partial strike could end up costing tens of billions of won in lost production.
  

Labor and management have been at odds over the introduction of a wage peak system under which employees take a pay cut as they approach retirement in exchange for prolonging their careers, along with the scope of ordinary salaries, which determine overtime and severance payments.
  

The labor union has been seeking a 7.84-percent hike in base salary and asked that 30 percent of net profit be set aside for bonus payments. It also has been demanding an agreement be signed to guarantee full job security both for regular and irregular workers.
 

Shares of Hyundai Motor traded at 161,500 won, down 1.52 percent from the previous day as of 9:45 a.m. (Yonhap)