The labor union at HD Hyundai Heavy Industries (329180.KS) is demanding a fixed portion of operating profit as a performance bonus. The union also plans to propose that management reach an agreement with it before introducing artificial intelligence (AI) technology.
The HD Hyundai Heavy Industries union on Wednesday finalized its wage and collective bargaining demands for this year, including a monthly base pay increase of 149,600 won, excluding step-up increments.
The union held an extraordinary delegates' meeting at the company's Ulsan headquarters on the same day and passed a proposal that includes the wage hike, a 100% increase in bonuses, sharing 30% of operating profit as performance pay, and a 20 billion won contribution to cover operating expenses for recreational facilities. The union is also calling for an expanded scope of items included in ordinary wages, as well as new hiring.
As part of the Korean Metal Workers' Union Shipbuilding Solidarity (KMWU Shipbuilding), the union plans to demand that the company establish employment stability measures through agreement with the union when adopting AI technology in its processes. The union is expected to send its demands to management soon and hold a first bargaining session next month.
This year's negotiations will also involve the in-house subcontractors' union (branch), which will bargain with HD Hyundai Heavy Industries as the prime contractor. Last month, the subcontractors' union sent the company its bargaining demands for this year, including a 149,600 won wage increase, recognition of eight hours as one full day's pay, and performance bonuses on par with those paid to prime contractor employees.
Management, however, maintains that the subcontractors' union must provide accurate figures such as the exact number of union members at each in-house company to meet the conditions for negotiation. As a result, the two sides have yet to set a concrete bargaining schedule. The prime contractor and subcontractor unions at HD Hyundai Heavy Industries also plan to jointly hold a briefing session on the bargaining proposal for local residents on Thursday.
