Hankook's Labour Union may go on strike

Published On 06-Jun-2016 21:41:12By TyreDekho Team

Hankook's Labour Union may go on strike

The Labour Union at Hankook Tire is contemplating a strike - the first-ever in the company's history. Voting was conducted for three days from August 21-23. Around 4,500 union members of the total 4,700 cast their ballot and 86.3 per cent of them voted for going on a strike over the issue of salary hike offered by the management.

The management has offered an annual raise of 1 per cent while the union is asking for 6.7 per cent and some extra, improved welfare benefits. The strike has not started at the moment because the management and the union will try to sort this issue out by negotiating further. On August 10, workers and management requested the National Labor Relations Commission to mediate the dispute. If the negotiation do not go well then the strike could be initiated soon since the mediation period is only 15 days.

On Monday, shares of Hankook Tire dropped by 4.3 per cent with a closing rate of 35,650 won.The market has been showing bearish behavior due to the concerns over looming production glitch.

As a related development, Kumho Tire has been facing union strike since August 17, which is the company's first strike in three years. The strike at Kumho was a result of the newly-proposed Peak Wage System by the management. If the Peak Wage System is implemented then the salaries of the employees will be gradually slashed in the years leading up to retirement. During the negotiations, Kumho offered to increase the retirement age but the union refused to accept it. The union at Kumho Tires is demanding for the lump-sump bonuses that are proportional to the company's growth last year.

You Might Also Be Interested In

Latest Tyres

  • Car
  • Bike
  • Truck
  • ZVTV A4
    ZVTV A4
    165/80 R14 85Ttubeless
    Rs3,250
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • CZAR A/T
    CZAR A/T
    255/65 R18 111HNA
    Rs11,390
    • iconDry Grip
    • iconWet Grip
    • iconHandling
    View September Offers
  • Apterra Cross
    Apterra Cross
    205/65 R16tubeless
    Rs6,100
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • AT 20 Grand Trek
    AT 20 Grand Trek
    265/65 R17 110Stubeless
    Rs14,699
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • UM 551
    UM 551
    165/80 R14 85Ttubeless
    Rs3,505
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • FR500
    FR500
    185/65 R14 86Htubeless
    Rs3,491
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Smart UX Royal
    Smart UX Royal
    215/60 R17tubeless
    Rs8,055
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • CINTURATO P1
    CINTURATO P1
    245/40 R17 91Wtubeless
    Rs14,577
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Smart Blaze RYDR BR43
    Smart Blaze RYDR BR43
    140/70-17tubeless
    Rs4,200
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Conta 725
    Conta 725
    90/90 R12tubeless
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Gripp XL
    Gripp XL
    90/90 R19tubeless
    Rs1,750
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • M6303
    M6303
    90/90 R12 54Jtubeless
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • BT SPORTMAXX
    BT SPORTMAXX
    140/70 R17tubeless
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Feelfree
    Feelfree
    120/70 R15 56H M/Ctubeless
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Conti Aqua Gripp
    Conti Aqua Gripp
    3.00-18 6PRtube
    Rs1,560
    • iconDry Grip
    • iconWet Grip
    View September Offers
  • Zapper S
    Zapper S
    140/70-14tubeless
    Rs2,625
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Load Power NW
    Load Power NW
    10.00R20NA
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • X INCITY XZUE3+
    X INCITY XZUE3+
    295/80 R22.5na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • ENDUTMRACE RD
    ENDUTMRACE RD
    315/70 R22.5na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • JET XTRA
    JET XTRA
    8.25-16na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • STEEL MUSCLE-S3P4
    STEEL MUSCLE-S3P4
    10.00 R20tube
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Mile XL X3 R
    Mile XL X3 R
    295/95 D20na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • TG 01
    TG 01
    10 R 20tube
    Rs43,000
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • AGB 21
    AGB 21
    295/80 R 22.5tubeless
    Rs36,000
    • iconFuel Efficient
    • iconWet Grip
    View September Offers

Best Tyres

  • Car
  • Bike
  • Truck
  • SecuraDrive
    SecuraDrive
    205/60 R16tubeless
    Rs6,475
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • ZLX
    ZLX
    155/65 R14tubeless
    Rs3,135
    • iconWet Grip
    • iconDry Grip
    View September Offers
  • Milaze
    Milaze
    145 R12tubeless
    Rs1,976
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Vectra
    Vectra
    175/65 R14 82Ttubeless
    Rs3,149
    • iconWet Grip
    • iconDry Grip
    • iconHandling
    • iconLow noise
    View September Offers
  • Fuel Smarrt
    Fuel Smarrt
    165/80 R14 85Ttubeless
    Rs3,505
    • iconFuel efficient
    • iconDry Grip
    View September Offers
  • Taximax
    Taximax
    175/65 R14tubeless
    Rs3,970
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • ZVTV
    ZVTV
    185/65 R15 88Ttubeless
    Rs4,299
    • iconWet Grip
    • iconDry Grip
    View September Offers
  • Alnac
    Alnac
    195/65 R15 91Htubeless
    Price Coming Soon
    • iconWet Grip
    • iconDry Grip
    • iconHandling
    • iconLow noise
    View September Offers
  • MILAZE
    MILAZE
    2.50/R16 41Ltube
    Rs875
    • iconLow noise
    • iconDry Grip
    • iconWet Grip
    View September Offers
  • SECURA ZOOM F
    SECURA ZOOM F
    90/90 R17 49Ptubeless
    Rs1,610
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • GRIPP
    GRIPP
    100/90 R18 56Ptube
    Rs2,040
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Nylogrip Plus
    Nylogrip Plus
    80/100-18tubeless
    Rs1,420
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • PILOT SPORTY
    PILOT SPORTY
    2.75/R17 41P 4PRtube
    Rs1,650
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Zoom XL F
    Zoom XL F
    110/70 R17 54Htubeless
    Rs1,775
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • MoGrip Meteor M
    MoGrip Meteor M
    120/90-17 64Htube
    Rs3,500
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Nylogrip Ezeeride
    Nylogrip Ezeeride
    80/100-18tubeless
    Rs1,570
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • WINMILE D
    WINMILE D
    11.00 R20na
    Rs15,000
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • FM Super
    FM Super
    10.00-20/16na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • MUSCLEROK
    MUSCLEROK
    10.00-20tube
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • HCL Super
    HCL Super
    12.00-20/18na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Lug Plus
    Lug Plus
    10.00-20/16na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Mile XL Rib Pro
    Mile XL Rib Pro
    8.25-20/16Pna
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • Lug XL Pro
    Lug XL Pro
    8.25-20/16na
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
  • THE LUG-PLUS
    THE LUG-PLUS
    10.00-20tube
    Price Coming Soon
    • iconFuel Efficient
    • iconWet Grip
    View September Offers
×
Which is your city ?