Word: hyundais
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Dates: during 1980-1989
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Even as Roh and Kim chatted amiably last week, the optimistic mood was disrupted by labor violence. More than 700 disputes continue to fester following a rash of strikes that first broke out in July. At a Hyundai Heavy Industries shipyard in Ulsan, where walkouts resumed after wage talks collapsed, a striker died and three others were seriously injured when a driver, whom they had beaten, got back into his truck and ran them over. Some 13,000 strikers occupied the yard, smashing windows, setting fire to cars and battling riot police. Late in the week police raided Hyundai...
...million people is believed to be $900, far less than South Korea's $2,274. The North's GNP rose last year by 1% to 4%, to about $20 billion, compared with a 12.5% increase, to about $95 billion, in the South. While South Korea pumps out Hyundai * automobiles and Daewoo computer equipment, some North Koreans drive trucks that burn wood for fuel and toil over equally outmoded factory equipment. Food is rationed...
Plagued by the same labor disputes that have crippled the South Korean economy over the past month, Chung had refused to meet with his employees' newly formed unions and promptly shut down seven of his conglomerate's 24 companies. Among the shuttered enterprises: Hyundai Shipbuilding & Heavy Industries, with 24,000 workers, and Hyundai Motor, with 23,000. More than 60,000 employees in the southeastern city of Ulsan were locked out. Trying to rally near one factory, 20,000 workers clashed with riot police. A day later, 40,000 strikers and supporters staged a twelve-hour demonstration in and around...
...prospect of the country's second largest conglomerate's shutting down indefinitely stirred Seoul into direct action. Hyundai produces the Excel, a subcompact popular in the U.S. and one of the most potent symbols of South Korea's economic coming of age. Though Chung denies that he caved in to government pressure, he admits that his initial refusal to negotiate was wrongheaded. "I thought they ((the union leaders)) were too young and inexperienced with company affairs to represent all the workers," says the 71-year-old Chung. "After I met with them personally, I found out I had been wrong...
While the government has earned praise for ending the Hyundai crises peacefully, it is wary of mediating again -- especially if that leads to financial bailouts. "The less of it, the better for everybody," says Suh Sang Mok of the Korea Development Institute, a government think tank. Intervening in remaining disputes may also be logistically impossible. At one point last week, the Labor Ministry reported that 485 companies were plagued by labor strife...