Union presses Hyundai Motor on wage talks
SEOUL, June 10 (Reuters) - Unionised employees of Hyundai Motor Co (005380.KS) said they would not work overtime on Tuesday to press South Korea's top auto maker to join wage talks with an umbrella union and to support protests over U.S. beef imports.
"Daytime union members will not work from 5 p.m. (0800 GMT) to 7 p.m. after finishing their normal 8 hour shifts. The overtime is not mandatory," Chang Kyu-ho, a union spokesman, told Reuters by telephone.
"Our first focus is to bring the company to talks with our umbrella union and the second goal is to join the anti-U.S. beef rally," he added.
The union is demanding Hyundai hold talks with the umbrella Korean Metal Workers' Union (KMWU) on wage deals and working conditions for this year, but the company has refused, saying it will only negotiate directly with the Hyundai union.
South Korean automakers including Hyundai, Kia Motors (000270.KS), GM Daewoo GM.N and Sangyong Motor Co (003620.KS) have all turned down the KMWU's demands for negotiations.
Renault Samsung Motors (RENA.PA) does not have a union.
The decision came after South Korean truckers voted on Monday to strike over high oil prices, piling more pressure on the export-dependent country's new president, whose policies have sparked mass street protests.
Lee Myung-bak has seen his support nosedive after only 100 days in office due to simmering anger over a U.S. beef import deal, jeopardising his business-friendly economic reform plans.
Hyundai Motor officials said the union's decision would cost the company 5.5 billion won ($5.32 million) in lost output.
Shares in Hyundai dropped 1.98 percent to 79,200 won by 0222 GMT, underperforming a 1.29 percent fall in the broader market . (Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)
