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Hyundai Motor labour union approves deal, ends costly strike

Published on September 4, 2012; Published on September 4, 2012

Topics :: Hyundai Motor , South Korea , SEOUL

SEOUL, South Korea - Hyundai Motor's labour union has voted to accept a deal for increased wages and the elimination of night-time shifts, ending one of the costliest strikes ever at South Korea's largest car maker.

The union said Tuesday that 53 per cent of more than 41,000 unionized workers voted to approve the deal that the union leaders and the company hashed out last week.

The approval ends the first strike in four years at Hyundai, which resulted in $1.4 billion of lost output according to the company's estimate.

The union staged walkouts that totalled 92 hours in July and August, pressuring the company to eliminate night-time shifts during annual negotiations on wages and working conditions.

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