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Hyundai Motor's union in South Korea votes on strike
  + stars: | 2023-08-24 | by ( Heekyong Yang | ) www.reuters.com   time to read: +3 min
SEOUL, Aug 25 (Reuters) - Hyundai Motor's (005380.KS) unionised workers in South Korea on Friday vote on whether to hold a strike after two months of talks with the company over wage increase and extension of the retirement age stalled last week. If the union stages a strike, it would mark the first such action in five years related to wage negotiations at the South Korean carmaker, and could disrupt delivery of some popular vehicles which Hyundai has been struggling to ramp up due to prolonged component shortages. The voting result is expected at around 6 p.m. (0900 GMT), a union official at Hyundai Motor told Reuters, adding that the union will continue working-level negotiations with the management regardless of the vote. "South Korea has relatively low pension replacement rates, compared to other advanced countries in Europe. Unionised workers at Hyundai in South Korea held a four-hour strike for one day in July in support of its umbrella union's general strike, but it was not related to the union's wage negotiations with the management.
Persons: Ji, Kim Jinwoo, 1,328.0600, Heekyong Yang, Shri Navaratnam snd Michael Perry Organizations: Hyundai, Hyundai Motor, Reuters, Korea University's School of Law, Analysts, Korea Investment, Securities, Thomson Locations: SEOUL, KS, South Korea, Korean, Korea, Europe
[1/2] A Hyundai Kona vehicle is unveiled at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. PERFORMANCEHyundai said vehicle sales rose 8.5% to 1.06 million units in the second quarter, with EV sales soaring 47% to nearly 78,000 units. In the United States, Hyundai's biggest market, sales of green energy cars that include EVs and plug-in hybrids more than doubled to 46,000 units. Overall vehicle sales in the U.S. grew 14% to 225,000 units, led by sedans, while in South Korea, its second-biggest market, sales rose 13% to 206,000 units. Hyundai said last month it planned to boost EV production in the United States to three-quarters of its total production there by 2030 from just 0.7% now.
Persons: Andrew Kelly, Elon Musk, Kim Jinwoo, Zayong Koo, Refinitiv SmartEstimate, 1,279.1700, Heekyong Yang, Miyoung Kim, Jacqueline Wong Organizations: Hyundai, New York, REUTERS, Kia Corp, Korea Investment & Securities, EV, Thomson Locations: Manhattan , New York City, U.S, SEOUL, KS, United States, North America, South Korea
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