Hyundai Motor may experience its very first company strike in three years as its negotiation with union workers has failed. The employees are asking for better pay as well as an extension for the retirement age, but the management and the union were not able to reach an agreement.
The union’s application to stage a walkout
According to Korea Joongang Daily, it will be a big walkout if the workers decide to push it through because out of the 48,599 members of Hyundai Motor’s labor union, 73.8% have agreed to stage a strike.
Since more than 50% of the union members have approved the walkout, the group can now submit an application to the National Labor Relations Commission so they can legally organize and hold a strike. Then again, the union said that while the initial talks did not yield good results, it is still open for another talk with the management of Hyundai Motor.
The workers are also hoping that they could finish the talks before August comes, but the issue will only end if the company will finally make a reasonable offer concerning their wages. The union is asking for a pay raise of ₩99,000 plus 30% of the profits last year as incentives.
They are also expecting Hyundai Motor to grant the request to extend the retirement age from 60 to 64. The talks for these requests began in May, and they have already engaged in at least 13 rounds of negotiations, but they fail every time.
Hyundai Heavy also in conflict with the labor union
At any rate, it is not just Hyundai Motor that is dealing with labor union conflict as Hyundai Heavy Industries is also negotiating with its own union that has already staged a strike. In fact, the company has sought a court order against the workers who are occupying a shipbuilding crane.
The unionized workers occupied the crane at Hyundai Heavy’s shipyard in Ulsan, and they have been staying there since Tuesday of this week. The employees are on strike as the management can’t present an agreeable proposal that will solve the union and the company’s two-year wage dispute.
"The workers plan to go on strike until Friday, but how long the situation will go on is unclear," Kim Hyeong Gyun, the union’s director of policy planning, told Yonhap News Agency.


Alphabet Stock Slides as Google AI Pioneer Jeff Dean Exits to Launch Discovery Loop
Wall Street Slips as Oil Prices Surge 5% on Iran-Hormuz Uncertainty
Oil Prices Rise as Hormuz Reopening Remains Uncertain
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets
Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise
ADNOC Gas Targets Up to $4B Profit in 2026
England Drought Expands to 71% as Heatwave Deepens Water Crisis
Daimler Truck Q2 Profit Falls 18%, 2026 Outlook Raised
Gold Prices Hold Near Seven-Week High as Markets Await U.S. Inflation Data
Nintendo Shares Jump as Switch 2 Sales Boost Earnings
Delta Flight Makes Emergency Landing in Atlanta After Cockpit Fumes Reported
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls
Treasury Wine Estates Shares Jump as U.S. Overhaul Lifts FY2026 Outlook 



