Hyundai Motor's South Korean union approves strike action over stalled wage talks (updated)

Hyundai Motor Co

Yesterday 09:54

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    SEOUL, June 24 (Reuters) - Hyundai Motor's 005380.KS South Korean labour union said its members voted on Wednesday to approve strike action over stalled wage negotiations, raising the prospect of production disruptions at the country's top automaker. 
Union representatives had pledged to discuss strike plans if an agreement was not reached during government-mediated talks on Wednesday, a union spokesperson said. 

     The union is demanding a 149,600 won ($96.82) increase in base monthly pay and a performance bonus equal to 30% of last year's net profit. It is also seeking guarantees on employment and working conditions related to the use of AI, among other issues. 

     The move comes as workers press for larger payouts after Samsung Electronics 005930.KS 
    agreed
     to distribute 10.5% of operating profit to its South Korean chip employees as performance pay.
  
     
($1 = 1,545.1000 won)

(Reporting by Hyunjoo Jin and Joyce Lee; Editing by Andrew Heavens and Kate Mayberry)
((joyce.lee@tr.com;))