default_top_notch
default_news_top
default_news_ad1
default_nd_ad1

Hyundai workers to protest over merger

기사승인 2019.05.16  16:16:09

공유
default_news_ad2

- Heavy protest of workers at the Hyundai Headquarters

Unionized workers at Hyundai Heavy Industries Co. set out to protest on Thursday against a merger which will result in a split up of the company.

The unionized workers began their 4 hour protest at the company's headquarters in Ulsan, approximately 400km southeast of Seoul. They will go ahead with the 4 hour protest until

Tuesday before switching to an eight hour protest on Wednesday
In March, Hyundai Heavy Industries signed a deal, worth an estimated 2 trillion won (US$1.6 billion), with the state-run Korea Development Bank (KDB) to buy Daewoo Shipbuilding & Marine Engineering Co. The bank is the largest shareholder of Daewoo, with a controlling 55.7 percent stake in the company.

Under the deal, Hyundai Heavy plans to split into two entities, which the labor union claims will lead to massive job cuts.

Hyundai Heavy shareholders are set to approve the proposed split on May 31.

Hyundai Heavy swung to black in the first quarter of this year with a net profit of 17.3 billion won from a loss of 132 billion won a year earlier. Last year, Hyundai Heavy suffered a net loss of 633 billion won.

Hyundai Heavy said its production would not take a serious hit from the latest strike but that it may take legal action against the union if it turns out to be illegal.

Kevin Kim edt@koreapost.com

<저작권자 © 코리아포스트 무단전재 및 재배포금지>
default_news_ad5
default_side_ad1
default_nd_ad2

인기기사

default_side_ad2

포토

1 2 3
set_P1
default_side_ad3

섹션별 인기기사 및 최근기사

default_side_ad4
default_nd_ad6
default_news_bottom
default_nd_ad4
default_bottom
#top
default_bottom_notch