Arab Today, arab today unions of hyundai motor kia hold strike authorization votes
Last Updated : GMT 04:02:46
Arab Today, arab today
Arab Today, arab today

Unions of Hyundai Motor, Kia hold strike authorization votes

Arab Today, arab today

Arab Today, arab today Unions of Hyundai Motor, Kia hold strike authorization votes

Beijing - Yonhap

Union members of Hyundai Motor Co. and Kia Motors Corp. began to cast their ballots over whether to authorize strikes, union officials said Tuesday, amid little signs of progress in averting potential work stoppages. The result of the vote by some 45,000 unionized workers of Hyundai is scheduled to be released early Wednesday morning, said Kwon Oh-il, a spokesman for the Hyundai union. He said ballot boxes were planned to be transported to Ulsan for vote counting around 10 p.m. Ulsan is home to Hyundai\'s main assembly plants, located some 410 kilometers southeast of Seoul Separately, about 33,000 union workers of Kia were to vote until 8:20 p.m. and the results were expected to be released around midnight, according to a Kia union official. He declined to be identified, though he did not give any reason as to why. Hyundai and Kia are the two major flagship units of Hyundai Motor Group, the world\'s fifth-largest automaking group. Kwon expressed confidence that the union members would overwhelmingly authorize a work stoppage, because the management did not make any meaningful offers. A potential strike requires majority approval from union members. If the strike is authorized, it does not mean that the union can down tools immediately because of a scheduled mediation by a state-run labor body. By law, a union cannot go on strike during mediation by the National Labor Relations Commission, which usually lasts 10 days. The two unions called for the commission\'s intervention to try to work out differences with the managements over a wage deal last week soon after declaring their negotiations with the managements collapsed. The Hyundai union demanded a hike of 130,498 won (US$117) in basic salaries and an extension of the retirement age to 61, as well as a bonus equal to 30 percent of the company\'s net profit. Last year, the carmaker posted a net profit of 9 trillion won ($8 billion). The Hyundai union also said its voice should be heard when the company decides to set up a new overseas assembly plant. Hyundai has assembly plants in China, the United States, India, Turkey, the Czech Republic, Brazil and Russia. Last year, the combined production at Hyundai\'s overseas plants reached 2.5 million vehicles, compared with 1.91 million units at their plants in South Korea. Officials of the two unions and their managements are set to hold their first separate meeting with their counterparts of the commission Wednesday, according to the commission. The mediation is set to end on Aug. 19 when the commission can either ask the unions and the managements to hold more negotiations or halt its mediation, meaning the unions can go on strike, according to the commission. Kwon said union leaders will decide a future course of action on Aug. 19 on the looming strike. He said last week that his union will go on a strike, no matter the outcome on Aug. 19. Strikes have plagued Hyundai Motor for decades. The unionized workers have downed tools every year due to wage disputes since 1986, except in 2007, 2009, 2010 and 2011, according to the carmaker. Kia\'s union went on strike every year, except in 2010 and 2011, since 1999, when the country\'s No. 2 carmaker was taken over by Hyundai following the 1997-98 Asian financial crisis. Three other carmakers in South Korea -- GM Korea Co., the local unit of U.S. automaker General Motors Co.; Renault Samsung Motors Co., the local unit of French automaker Renault SA; and Ssangyong Motor, the local unit of Indian sports utility vehicle maker Mahindra & Mahindra Ltd. -- reached wage deals with their unions in recent weeks. Separately, Hyundai and Kia have performed poorly this year, compared with their global peers. The combined market capitalization of the two carmakers stood at 73.1 trillion won as of Friday, up 2.93 percent from 71.3 trillion won tallied on Jan. 1, according to data compiled by local financial companies. In comparison, Toyota and Honda saw their combined market capitalization jump 40.9 percent to 32.6 trillion yen ($335 billion) during the cited period, the data showed. It also showed that the combined market capitalization of U.S. carmakers, including Ford, surged 24.7 percent to $116.7 billion.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today unions of hyundai motor kia hold strike authorization votes Arab Today, arab today unions of hyundai motor kia hold strike authorization votes

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday