Hyundai union to launch work stoppage next week
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SEOUL (Reuters) - Unionized workers at Hyundai Motor Co <005380.KS>, South Korea's top automaker, said on Friday they had decided to hold brief work stoppages twice next week over a wage dispute and working conditions.Hyundai's daytime and night shift union members plan to stage four-hour strikes each on Tuesday and Wednesday, if they fail to reach a deal, a union spokesman said.The union has held seven work stoppages since July 2, costing the company 25,819 vehicles in lost output, according to the company.But union members at the company usually make up production losses with overtime work once they reach wage deals.Shares in Hyundai rose 0.42 percent to 71,100 won as of 0538 GMT, compared with a 0.14 percent gain in the wider market <.KS11>.(Reporting by Cheon Jong-woo; Editing by Ken Wills) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
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