Politics · South Korea · 17 hrs ago

South Korean Manufacturing Strike Losses Rose 45% Despite Fewer Disputes

South Korean Manufacturing Strike Losses Rose 45% Despite Fewer Disputes

By the end of September, South Korea had recorded 88 labor disputes in major manufacturing industries, down from 99 a year earlier.

But strike-related lost workdays rose 45% to 489,190, as walkouts hit carmakers and shipbuilders.

Hyundai Motor held an eight-hour full-day strike for the first time in 10 years, after repeated partial strikes.

Industry estimates put the disruption at about 55,200 vehicles and at least 2.3 trillion won in lost sales.

Workers at several manufacturers also sought a fixed share of company profits, including demands tied to net or operating income.

Because manufacturers rely on networks of suppliers, a stoppage at one major site can disrupt production, sales, jobs and deliveries across other businesses.

The Korea Enterprises Federation urged labor and management to weigh industry conditions, global competition, future investment and effects on suppliers in negotiations.

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Korea Employers FederationEmployer association
Labor and management need to form reasonable bargaining practices by comprehensively considering not only individual companies’ short-term performance but also industry volatility, global competition, future investment needs and effects on partner companies.
via Yonhap