Hyundai Motor Disrupted by First Full-Scale Strikes in 12 Years
- About 50,000 union workers halt work at three Korean plants
- Labor strife has caused lost production of about 100,000 cars
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Hyundai Motor Co. workers went on full-scale strikes on Monday for the first time in more than a decade, bringing operations at three South Korean plants to a standstill at the same time.
About 50,000 union members at South Korea’s largest automaker participated in the strikes as the union and management failed to make progress on resumed wage talks after workers voted against a tentative wage deal reached last month. Hyundai’s shares fell 1.4 percent to 140,000 won as of 10:16 a.m. in Seoul trading, compared with a 0.1 percent decline in the benchmark Kospi Index.