HD Hyundai unions secure strike rights over profit-sharing demands

Labor unions representing three major subsidiaries of HD Hyundai—Heavy Industries, Construction Equipment, and Electric—have successfully secured the legal right to strike following decisive votes by their members.

The unions are demanding a significant share of operating profits to compensate workers for enduring previous industry downturns during the recent period of economic recovery. Specifically, the HD Hyundai Heavy Industries union is requesting that at least 30% of operating profits be allocated to performance bonuses. This demand follows a period of record profitability for the company, which saw quarterly operating profits exceed 1 trillion won.

While the unions have obtained strike authorization, they have indicated a preference for continued negotiations. The companies have expressed difficulty in meeting the full profit-sharing demands due to market volatility and investment requirements. If upcoming collective bargaining sessions fail to reach an agreement, the unions may initiate partial strikes, which could escalate into full-scale industrial action.