HD Hyundai Reaches Wage Breakthrough, Hanwha Sit-In Continues

While the shipbuilding industry is experiencing a boom in orders, discord continues in labor-management relations on the ground.

Labor and management at HD Hyundai Heavy Industries have found a breakthrough to concluding negotiations by preparing a second tentative agreement for the wage and collective agreement, but Hanwha Ocean has not been able to find an exit from the conflict as the long-term sit-in by the subcontractor union continues.

According to the shipbuilding industry on Oct. 23, labor and management at HD Hyundai Heavy Industries reached the second tentative agreement for this year’s wage and collective agreement during the 26th negotiation held at the Ulsan headquarters on the same day. This comes 21 days after the first tentative agreement was rejected in a union member vote.

The new agreement focuses on a base pay increase of 120,000 won (about $90.59) and the payment of a lump sum of 11.5 million won (about $8,682) and 200%. The lump sum increased by 500,000 won compared to the first agreement, and the step-up salary increment was also raised by 5,000 won to 55,000 won. The provision of 300,000 won in welfare points, adjustments to the severance pay calculation standards, and the conclusion of a special agreement on industrial transition were also included.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →