Strike alert at Hyundai... Production may halt

While Hyundai’s star is shining in the US, things are looking up in South Korea. The union at a South Korean factory has threatened a strike because they can’t get what they want. According to Reuters, the strikes will affect several facilities across the country, including those in Asan, Jeonju, and Ulsan. This means various models such as the Hyundai Kona, Tucson, Santa Fe, Palisade, Sonata, and Grandeur could be affected. The strikes could also affect the Genesis G70, G80, G90, GV60, GV70, and GV80. STRIKES TO LAST TWO HOURS The strikes are expected to last just two hours on Wednesday and Thursday. If no agreement is reached by Friday, the strike will extend to four hours. DEMANDS DEMANDED Union members are reportedly demanding a number of changes, including a four-and-a-half-day workweek and an increase in the retirement age from 60 to 64. Dow Jones Newswire also reported that employees are demanding a $102 monthly pay raise and a performance bonus worth 30 percent of last year's net profits. The agency added that despite the offer of a pay raise and bonus, 86 percent of workers voted in favor of the strike. However, these offers appear to have failed to meet the unions' demands. It's unclear whether the strikes will continue, but Reuters noted that the union hasn't called a full-time strike over wages in nearly a decade. This suggests the risks may not be as high as they appear, but only time will tell.