Seoul, Aug 20 (IANS) Unionised workers at internet-only Kakao Bank will launch a five-day strike as talks with management over wage increases and other benefits have stalled, its union said on Thursday.
The labour union and Kakao Bank’s management have been in negotiations over a pay raise and other benefits but failed to narrow outstanding differences.
The union said the strike will run from Aug. 31 to Sept. 4. On July 31, the unionised workers also went on a full strike, reports Yonhap news agency.
In the first quarter of the year, Kakao Bank logged an operating income of 211 billion won (US$143 million) on revenue of 1.94 trillion won, both quarterly highs.
Unionised workers at the bank’s parent, Kakao Corp., and its management, meanwhile, reached a final wage deal earlier this month after a three-month dispute.
Meanwhile, Hyundai Motor is expected to suffer cumulative production losses of more than 60,000 vehicles as its labour union steps up strike action amid stalled wage negotiations, industry sources said.
The automaker’s union said it will stage four-hour partial strikes on Wednesday and Thursday, followed by an eight-hour full-scale strike on Friday, its first such walkout in 10 years.
The union also plans to stage four-hour partial strikes next Monday and Tuesday, extending its latest walkout to five days, reports Yonhap news agency.
The continued strikes are expected to bring cumulative production losses from last month through August 25 to around 62,000 vehicles, with lost sales estimated at 2.6 trillion won (US$1.85 billion), according to industry sources familiar with the matter.
The latest walkout comes after management and the union failed to narrow their differences over wages. The two sides last held their 16th round of negotiations earlier in the day.
—IANS
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