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HYUNDAI MOTOR UNION TO RESUME NEGOTIATION WITH MANAGEMENT.
SEOUL/ULSAN, Sept 3 Asia Pulse - Unionized workers at Hyundai Motor Co. (KSE:005380), South Korea's largest automaker, will resume negotiation with management officials Monday, following a 10 day hiatus, raising the possibility of an agreement being reached to end industrial disputes.
"We could have gone on strike from Tuesday for a two-day run but decided not to, in order to have earnest negotiations with management," said Chang Kyu-ho, the union spokesman. "We urge the company to make a developed offer that our members could accept during the talks."
On Saturday, the union voted for a strike but accepted a request from management to put a hold on industrial action until after Wednesday in order to have further negotiations.
Representatives of the 44,000-strong unionized workforce at Hyundai Motor will meet their counterparts from management, including the automaker's president Yoon Yeo-cheol, at its Ulsan production line at 2 p.m.
The union is demanding an 8.9 per cent pay increase along with the sharing of 30 per cent of the company's 2007 profits with workers. ...
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Source: HighBeam Research, HYUNDAI MOTOR UNION TO RESUME NEGOTIATION WITH MANAGEMENT.