The world’s largest shipbuilder, Hyundai Heavy Industries HHI, has been thrown into crisis by the prospect of the first all out strike at the yard in nearly 20 years. Hyundai president Oh-Gap Kwon has personally addressed workers asking them not to go ahead with the strike action to help the ailing company.
Oh-Gap Kwon saying: "Please think first about what is good for our company. If the company failed to win your heart, that's my fault. I express my deepest apology from the bottom of my heart. As you may know, the company is not in good shape, that's my fault, not yours. I cordially ask you to give me an opportunity to revitalize Hyundai Heavy Industries HHI, I need your help."
Hyundai Heavy Industries HHI announced a $1bn operating loss in the second quarter.
The Hyundai Heavy Industries HHI union’s 18,000 members are voting and have until Friday this week to decide strike action. Negotiations so far have had little success with management tabling an offer of a $35 a month increase in wages and unions seeking $122 increase.
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