Hyundai Motor union stages first full strike in 12 years

Hyundai Motor's South Korean labour union staged its first full nationwide strike in 12 years on Monday over stalled wage talks, putting the automaker's earnings and sales targets at risk

The full-day walkout came after a series of partial stoppages since July
The full-day walkout came after a series of partial stoppages since July

Hyundai Motor's South Korean labour union staged its first full nationwide strike in 12 years on Monday over wages

The full-day walkout came after a series of partial stoppages since July at the automaker's factories across South Korea.

Hyundai’s South Korea manufacturing base produced nearly 40% of its vehicles sold globally last year, according to Reuters news agency.

The disruption caused by sporadic strikes led by union boss Park You-ki, has led to lost production of 114,000 vehicles worth 2.5 trillion won (€1.80 billion) as of Monday, the biggest strike-related output loss for the automaker in terms of value of vehicles.

The 48,000-member union plans to stage a partial strike for the remainder of this week and stoppages could continue into next week depending on the company's response, union spokesman Jang Chang-yeal said.

Hyundai, the world's fifth-biggest automaker along with Kia Motors, said in a statement on Monday it was "obviously disappointed" with any stoppage in production and was continuing to work with the union to resolve this dispute.

Hyundai Motor's unionised workers in South Korea last month overwhelmingly voted down a tentative wage deal which was less generous than last year's package.