Hyundai Heavy Industries (HHI) is putting its restructuring plans on a shareholders’ meeting agenda for Feb. 27, but HHI workers plan to strike from Feb. 22-27 in attempts to block the meeting.
About 4,000 metalworkers rallied in front of the Hyundai Heavy Industries (HHI) Shipyard in Ulsan, South Korea last Wednesday in opposition of the restructuring of the shipbuilding company, the IndustriALL Global Union reported.
Korean analysts and unions believe that Chung Mong-Joon, HHI’s controlling shareholder and part of the Hyundai chaebol dynasty, is restructuring the company to transfer ownership to his son, Chung Ki-seon, which is a move that would be illegal under Korean law, the union said.
Last October, HHI announced its plans to split into six units: Robotics, Global Services, Electric & Energy Systems, Construction Machinery, Green Energy, and Heavy Industries.
HHI is putting the restructuring plans on a shareholders’ meeting agenda for Feb. 27, but HHI workers plan to strike from Feb. 22-27 in attempts to block the meeting.
HHI workers voted to join Korean Metal Workers’ Union (KMWU), an IndustriALL Global Union affiliate, in December 2016, but HHI has refused to recognize the KMWU as collective bargaining representatives, even though it is recognized by Hyundai Motors, the IndustriALL Global Union reported.
“The KMWU will stop this restructuring, which is an attempt by Chung Mong-joon and the Park Geun-hye government to shift the responsibility for the shipbuilding industry downturn onto the backs of workers,” KMWU President KIM Sang Gu said.
HHI workers to go on strike
