(Updates to add Hyundai's response)
Hyundai Motor's (KRX:005380) 40,000-member labor union plans to carry out a partial strike throughout this week after failing to reach a wage agreement with the automaker's management, Yonhap News reported Tuesday.
The union scheduled four-hour partial strikes on Monday and Tuesday, with plans to continue next week, according to the report.
The union is seeking a 149,600-won increase in monthly base pay and a performance bonus equivalent to 30% of the net profit in 2025. The automaker has offered an 80,000-won monthly base-pay raise, a performance bonus equivalent to 350% of monthly salary plus 10 million won, along with 15 company shares, the report said.
"Strike action can impact our customers, partners and operations. We are at a critical time when both sides must work together to successfully navigate the global transition to future mobility. Hyundai Motor remains committed to finding solutions through dialogue and good-faith engagement," the company toldin a statement.
Shares of the automaker fell nearly 5% in recent trade.
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