The powerful union representing Hyundai Motor workers in South Korea is beginning to show signs of weakening. Last year, workers went on strike for twenty four days, only to be stuck in negotiations for months following to secure the workers’ smallest raise in nearly a decade. This week, after just a two-day strike the union reached an agreement with management that secured an even smaller wage increase than last year. The relatively small gains may be a sign that the union is losing power due to falling profits, growing criticism, the near bankruptcy of GM Korea, and potential U.S. tariffs. The deal was ratified by union members last Thursday, right before the company released its second-worst quarterly net profit report since 2012.
See "As Hyundai struggles, its labor union shows signs of softening", Hyunjoo Jin, Reuters, July 30, 2018