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Management-Labor Dispute Deepens over Hyundai's Plan to Acquire Rival

Write: 2019-06-13 17:02:54Update: 2019-06-13 17:11:37

Management-Labor Dispute Deepens over Hyundai's Plan to Acquire Rival

Photo : YONHAP News

Hyundai Heavy Industries has filed criminal accusations against dozens of its unionized employees for allegedly committing violence during a management and labor dispute over the shipbuilder's plan to acquire a domestic competitor.

According to the company on Thursday, a total of 79 union members, including union leaders, are facing accusations and complaints, adding that police have summoned them for questioning. 

The accusations are directed at the labor union’s attempts on March 31st to block the major shareholders and managers of the Ulsan-based company from entering a venue in the city for a shareholders’ meeting to vote for the planned splitting of the company into two entities. 

The bifurcation is necessary for the company to acquire Daewoo Shipbuilding and Marine Engineering. Ultimately, the shareholders voted to approve the plan after relocating their meeting.

The company’s labor union argues the split and acquisition will lead to massive debt and job losses, and has been holding a walkout since June third to protest the company’s moves.

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