Ulsan: Hyundai union to suspend work

The labour union of Hyundai Motor said on Tuesday that it planned to suspend all engine output in the southeastern city of Ulsan, the company's biggest production base, from 0400 GMT after talks with management broke down.

The union said on Monday an employee set himself on fire following alleged suppression by the company and warned it would halt production at engine plants in Ulsan unless the firm acted to prevent alleged mistreatment of unionised workers. Production at the plant where the employee worked was already suspended.

We will proceed with (further) talks with management while halting engine output, a spokesman for the union said.

A Hyundai Motor spokesman said the stoppage would not have an immediate impact on production as the company had engine inventory.

Hyundai Motor shares were unfazed by the news, gaining 2.7 percent in a wider market up 1.8 percent as of 0332 GMT.

The stoppage comes as Hyundai is celebrating its Elantra compact winning car of the year honors in the United States on Monday.

Hyundai Motor, which ranks fifth in global car sales along with affiliate Kia Motors, has achieved runaway success in recent years, but labour issues remain a potential vulnerability despite the South Korean carmaker avoiding strikes for a third year in a row last year.

In November last year, Hyundai Motor's union picked a militant candidate as its new leader.

Sensex rises 1 pct; Reliance, Infosys up

MUMBAI

Reuters

Sensex today rose 1 per cent in early trade on Tuesday, tracking firmer Asian markets and led by energy major Reliance Industries and software bellwether Infosys.

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Source: http://www.indianexpress.com/news/ulsan-hyundai-union-to-suspend-work/897993/

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