Union at Hyundai set to strike

A labor union in Korea said it would use two two-hour strikes with more to follow if talks with Hyundai Motor Co. fail to produce a contract. The two-hour strikes are scheduled for Tuesday and Wednesday, The Wall Street Journal reported Monday. The next round of talks is scheduled to run through Thursday. Union spokesman Kwon Oh-il said longer strikes would be employed if no progress is made in the negotiations. The short strikes hurt. In the March to May spat of strikes, the company lost $1.53 billion, a production loss of 83,030 vehicles, the Journal said. In spite of the production disruptions, sales rose in the second quarter to 1.22 million from 1.11 million in the second quarter of 2012. Hyundai spokesman Han Sung-ho said the company is trying to steer away from "extreme conflict." Han also said that the strikes were especially disruptive, as the factories were running at full capacity. The agreement breakdown is largely about money, the Journal said. Among its other demands, the union is seeking a raise of $117 per month in base pay and a cash bonus that is 30 percent of 2012 profits.