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Market Chatter: Hyundai Motor Group's Labor Union to Carry Out Three-Day Strike

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The labor union of Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270) plans to conduct a three-day partial strike from Monday, The Chosun Daily reported the same day.

The strikes will mark the first temporary halt this year, the report said.

The union will carry out a four-hour partial strike over a three-day period, with morning and afternoon shifts stopping work for two hours each. The disruption will also involve sales, maintenance, and logistics workers, the report said.

Shares of both Hyundai Motor and Kia fell nearly 2% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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