by Alimat Aliyeva<\/p>\n
In South Korea, the trade union representing workers at Hyundai
\nMotor Co. began a strike on Friday after failing to reach an
\nagreement with management over wage increases.<\/p>\n
Production lines at Hyundai\u2019s plants in Ulsan, Jeonju, and Asan
\nwere scheduled to stop for a total of 16 hours. Around 39,000 union
\nmembers are expected to take part in the strike.<\/p>\n
Including Friday\u2019s action, the union has carried out a total of
\n60 hours of strikes since wage negotiations with management began
\nin May. The repeated walkouts are putting additional pressure on
\nHyundai as the company tries to maintain stable production.<\/p>\n
According to industry experts, the strikes could lead to
\ncumulative production losses of approximately 55,200 vehicles. The
\nresulting losses in potential sales are estimated to exceed 2.3
\ntrillion won, or around $1.64 billion.<\/p>\n
The situation could become even more serious next week, as the
\nunion is planning additional four-hour strikes. Prolonged
\ndisruptions could affect not only Hyundai\u2019s domestic production but
\nalso its supply chain and vehicle deliveries.<\/p>\n
The labor dispute is also spreading to Hyundai\u2019s affiliate Kia
\nCorp. On Friday, Kia\u2019s union approved a plan for partial strikes
\nfrom Wednesday through Friday after failing to resolve its own
\ndisagreements with management over wages.<\/p>\n
Interestingly, labor disputes at major South Korean automakers
\ncan have an impact far beyond the factory floor. Hyundai and Kia
\nare major exporters, so prolonged strikes can affect vehicle
\nsupplies in overseas markets and potentially delay deliveries to
\ncustomers around the world.<\/p>\n
The latest dispute highlights a broader challenge facing South
\nKorea\u2019s auto industry: manufacturers must balance rising labor
\ncosts and workers\u2019 demands for higher wages with the need to remain
\ncompetitive in an increasingly crowded global electric-vehicle
\nmarket.<\/p>\n","protected":false},"excerpt":{"rendered":"by Alimat Aliyeva In South Korea, the trade union representing workers at Hyundai Motor Co. began a strike…\n","protected":false},"author":2,"featured_media":128124,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[33953,3262,58599,4589,1523,2514,41678,119,58598,295,294,293,3428,414,12441,21003,76],"class_list":["post-128123","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hyundai","tag-analytics","tag-azerbaijan","tag-azernews","tag-baku","tag-breaking-news","tag-business-news","tag-company-news","tag-economy","tag-financial-news","tag-hyundai","tag-hyundai-group","tag-hyundai-motor-group","tag-oil-and-gas-news","tag-politics","tag-socar","tag-turkey","tag-world-news"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/128123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=128123"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/128123\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/128124"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=128123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=128123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=128123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}