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[Alpha Biz=(Chicago) Reporter Kim Jisun] The labor union of Hyundai Steel voted for and against the strike and began preparing for the strike.
According to the industry on the 7th, the Hyundai Steel branch of the Chungnam branch of the Korean Metal Workers' Union announced that 3,401 out of 4,109 registered members participated in the vote, with 2,970 (87.33%) in favor, 427 against and four invalid.
Hyundai Steel's labor union earlier declared a breakdown in wage negotiations on the 4th and applied for dispute mediation with the South Chungcheong Provincial Labor Relations Commission. In this year's wage negotiations, Hyundai Steel's labor union is known to have included △ basic salary of 184,900 won (excluding increase of salary) △ 25% special payment of operating profit △ increase of various allowances △ expansion of vacation and calculation holidays.
The special performance bonus is said to have been calculated at 5.8 million won, including the price of 10 shares, in the same special performance bonus as 4 million won paid by Hyundai Motor. The union claims that paying 5.8 million won to all executives and employees would be 25% of last year's operating profit.
The management says it is difficult to accept the union's position. Although it succeeded in turning a surplus in the first quarter of this year, it posted an operating profit of 333.9 billion won, down 52.1% year-on-year, and a sluggish operating profit of 465.1 billion won in the second quarter, down 43.4% from the same period last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
