Home Page About Us Contribute




Escort, Inc.



Tweets by @CrittendenAuto






By accessing/using The Crittenden Automotive Library/CarsAndRacingStuff.com, you signify your agreement with the Terms of Use on our Legal Information page. Our Privacy Policy is also available there.

More Strikes for Hyundai Motor in South Korea

American Government Special Collections Reference Desk

Topics:  Hyundai

More Strikes for Hyundai Motor in South Korea

Andrea Niem
July 5, 2004
Hong Kong

Thousands of workers went on strike in South Korea, while China cracked down on corporate corruption.

About 40,000 unionized workers at South Korea's top automaker, Hyundai Motor, went on a two-day strike last week to demand a wage increase of more than 10 percent and better working conditions.

Foreign investors say labor unrest is a big deterrent to doing business in South Korea. Jiwon Lim, an economist with investment bank J.P. Morgan, says strikes are common in South Korea, occurring almost every spring and summer.

Ms. Lim warns, however, that the tendency of companies to give in to union demands could hurt the country's economy in the long run. "If the labor strike and negotiation outcome is labor-friendly, the competitiveness of Korea will be eroded."

Other companies in South Korea, including automaker Kia and top lender Koram Bank, also saw their workers strike last week.

Excerpt from an Asian business report, non-automotive content removed.

Connect with The Crittenden Automotive Library

The Crittenden Automotive Library at Google+ The Crittenden Automotive Library on Facebook The Crittenden Automotive Library on Instagram The Crittenden Automotive Library at The Internet Archive The Crittenden Automotive Library on Pinterest The Crittenden Automotive Library on Twitter The Crittenden Automotive Library on Tumblr
 


The Crittenden Automotive Library

Home Page    About Us    Contribute