Hyundai Mipo Dockyard to launch its first strike in 20 years

2016-08-30 09:00

On August 25, Hyundai Mipo Dockyard union workers voted to join a joint strike initiated by the parent company, Hyundai Heavy Industries (shipbuilding division) union. The vote lasted two days, with 2,676 workers participating, 64% of whom supported the strike.

This will be the first strike at Hyundai Mipo Dockyard in twenty years. For over two decades, the union workers at Hyundai Mipo Dockyard have never held any strike action. As a result, the Hyundai Mipo Dockyard union has always been considered a moderate faction among South Korean shipbuilding unions.

The union's decision to strike comes at the worst possible time for Hyundai Mipo Dockyard. In the first half of this year, Hyundai Mipo Dockyard received only $160 million in new ship orders, a 71% decrease compared to the same period last year, and only 5% of its $3 billion annual order target. Hyundai Heavy Industries, the parent company of Hyundai Mipo Dockyard, is also facing a crisis, with Hyundai Heavy Industries receiving $4.1 billion in orders in the first half of the year, only 21% of its annual order target.

Previously, the unions of Hyundai Heavy Industries and its subsidiaries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard, announced a comprehensive strike until the shipyards withdrew their restructuring plan. The three unions held a press conference in Ulsan on August 17. At the conference, union leaders announced a comprehensive joint strike, which is the union's last resort.

The three unions plan to begin the strike on August 31 and will continue until the shipyard agrees to abandon the restructuring plan and complete collective salary negotiations.

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