Hyundai Motor union approves strike plan after wage talks stall

Unionized workers at Hyundai Motor Co. voted Wednesday to authorize a strike if mediation is suspended. The vote follows 11 rounds of negotiations since May that have not produced an agreement. In a vote, 86.65 percent of the union's 39,668 members approved the strike plan, with 94.15 percent of members casting ballots, according to the union.

The approval gives the union the right to stage a legal walkout if the state labor relations committee decides to suspend mediation. The committee is expected to make a decision on whether to suspend mediation Thursday. The union is demanding a 149,600-won monthly base pay increase per worker, 30 percent of last year's net profit for performance-based pay, an increase in bonuses from 750 percent to 800 percent, a higher retirement age, and improved job security.

Company position The company has cited its operating profit, which fell 19.5 percent last year to 11.46 trillion won, in response to the union demands. The union staged partial strikes last year for the first time in seven years before reaching an agreement.