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Workers, management at Hyundai Motor fail to iron out differences in wage talks

All News 22:01 September 07, 2016

ULSAN, South Korea, Sept. 7 (Yonhap) -- Workers and management of Hyundai Motor Co., South Korea's leading automaker, failed to iron out their differences at their latest round of wage negotiations, union and company officials said Wednesday.

Representatives of the two sides held their 23rd round of wage talks for this year on Wednesday in this southeastern city where its main plant is located but failed to find common ground, according to the officials.

They are expected to resume talks after the Chuseok holiday that ends Sept. 18, observers said.

Last month, they reached a tentative wage deal under which workers should accept a 58,000 won (US$51.7) hike in their basic monthly pay along with a 350 percent bonus and other benefits. But the deal was rejected in a vote held later by a large margin.

The company estimated that labor strikes related to the stalemate in wage talks have caused around 1.8 trillion won worth of lost production.


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