GM Korea: Union Workers Start Strike For Higher Wages

SEOUL (Dow Jones)–GM Korea Co., the South Korean unit of General Motors Co. (GM), Tuesday said unionized workers at its three plants have begun striking, seeking higher wages and performance-based bonuses.

In the 2011 round of pay negotiations with the company, the union has asked for an increase of KRW150,611 ($140) a month in basic salary and 30% of last year’s net profit in profit sharing. The company has offered a rise of KRW68,828 in basic wages and KRW2.2 million per employee in one-time bonuses, GM Korea spokesman Kim Sang-won told Dow Jones Newswires by telephone.

“We will continue negotiations with the union to strike a wage deal (for the year) before the summer holidays, which fall in the first week of August,” Kim said.

GM Korea workers at Bupyeong, Gunsan and Changwon plants began a six-hour strike on Tuesday and are planning a three-hour strike at the three plants on Wednesday, according to GM Korean’s union, which has 10,000 members.

The company estimates production losses equivalent to 3,600 vehicles from the two stoppages but didn’t provide a monetary value for the lost production.

GM Korea signed wage deals without strikes in 2009 and 2010.
http://online.wsj.com/article/BT-CO-20110705-701375.html

 

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