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Korea’s SME industry threatens to boycott cars of strike-ridden Hyundai Motor

Collected: 2016.09.29

Distributed: 2016.09.30

Source: Go Direct

South Korea’s small and medium-sized industry criticized Hyundai Motor’s labor union for its extensive strike including full-fledged walkout on Monday launched for the first time in 12 years over wage disputes, threatening to boycott Hyundai cars unless the union stops the strike.

The full walkout that put a daylong halt to the entire domestic assembly lines of the country’s largest automaker occurred following a series of strikes by unionized workers of state corporations, railway and subway services and banks against the government`s push to implement a merit-based pay system.

Korea Federation of SMEs Chairman Park Sung-taek said in a press conference on Wednesday that the strike by high-salaried workers at large companies like Hyundai Motor and Kia Motors was hurting parts suppliers and other SMEs. The industry will lead campaign to boycott Hyundai cars if the union continues its selfish strike, he added.

The strike has sparked concerns over Korea’s export business of domestically manufactured vehicles that feed more than 5,000 suppliers and a broader economy that is already in a significant downturn.

By Jin Young-tae

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