Banking, auto unions gear up for activity

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Banking, auto unions gear up for activity

Hyundai Motor Co., already grappling with a strong won and declining sales both at home and overseas, is expected to acquire another heavy burden this month ― another labor strike.
Unionized workers at the top automaker said yesterday they would vote between June 19 and 21 on whether to join a strike this month being led by the Korean Metal Workers Federation, which the Hyundai labor union belongs to. If the workers vote in favor of the plan, the top automaker will mark its 13th consecutive year with a walkout.
The metal workers federation, under the guidance of the Korean Confederation of Trade Unions, one of two major umbrella unions in Korea, announced April 25 that they would enter into a partial strike of up to six hours per day from June 25 to 29 to protest the ratification of the Korus free trade agreement.
Although union workers argue that the pact will have a “seriously negative” impact on the economies of both countries, leading to almost no job creation, many industry insiders say the seemingly political stance is merely an excuse “for the habitual strike staged over and over again in past years.”
“Hyundai Motor, since its labor union was established in 1987, has undergone a walkout every year, with the exception of 1994. That has not only dealt a huge blow to the carmaker but also the Korean economy,” said a car expert who declined to be named. “If a labor strike occurs this year again, it could drive Hyundai into an extremely serious business situation.”


By Seo Ji-eun Staff Writer [spring@joongang.co.kr]
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