Strike Cripples South Korea's Largest Automaker |
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| Topics: Hyundai
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Heda Bayron
Hong Kong
August 29, 2005
In South Korea, thousands of workers at Hyundai Motors, the country's largest automaker, have gone on strike demanding higher wages and better working conditions.
The autoworkers' walkout follows a strike earlier this month by pilots of the country's second largest airline, Asiana. Hyundai Motors says the strike is costing millions of dollars a day.
In other automobile news, the U.S. car giant, General Motors' Australian subsidiary says it will cut 1,400 jobs at its assembly plant in south Australia. Holden GM's chairman says the adjustment is necessary because competition from Asian brands is "too fierce" and production costs are high.