• Jul 20th 2006 at 3:56PM
  • 6
It's summertime, and that means swimming, road trips and union labor strikes that disrupt the flow of exports out of South Korea. The recent strikes at auto assembly plants in South Korea have caused Hyundai to suspend vehicle exports for the time being. No worries, though. Hyundai has built up a three-month stock of vehicles Hyundais and Kias already shipped overseas. That doesn't mean the strikes aren't taking their toll, though. So far, The Detroit News reports the strikes have cost Hyundai 78,616 vehicles in lost production, which is worth about $1.13 billion.
[Source: The Detroit News]

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    • 1 Second Ago
      • 9 Years Ago
      I'm always one to stick it to the man. Due to my distaste for unions, I think this calls for a, stick it to the union man, approach.

      Seeing as how Toyota and Honda have both successfully setup NA based plants w/o the pains of domestic automakers, might Hyundai/Kia be next? Might not be a bad deal with their larger models.

      The bosses might also want to consider looking East to see what happens when unions get too greedy.
      • 9 Years Ago
      Congratulations to organized labor for starting a grass roots movement against a corrupt management. The government is trying by arresting the President of Hyundai, but the croonyism will water down all the charges and the corporate finger pointing and excuses will camouflage the other greed. The workers are right on this one, claiming their own in a legal and organized protest. Hyundai needs an entirely new corporate team.
      • 9 Years Ago
      #2 Love it!
      • 9 Years Ago
      Hey guys, the CEO of Hyundai is in jail on bribery charges (what! Bribery in Korea?) and they are so afraid he will pull a “godfather in jail” routine (instructing his minions to destroy evidence etc.) he only gets 15 minutes a day of time to talk to his company.

      So, things are grinding to a halt at Hyundai, and the South Korean government is in the process of tanking a great modern industrial success story over what generally passes for a piss-ant crime in Asia.

      Thus no American plant, no auto exports, and union trouble.

      If Ayn Rand, were still writing, she'd love this one.
      • 9 Years Ago
      Even though I know nothing about the details of the case or working conditions at the Hyundai factories, let me knee-jerk and say this is all the unions fault. I've never been in a union, nor do I have any knowledge about the benefits collective bargaining provide, but I do know that management is always right and the common worker is always wrong. I also have no working knowledge of unions or their history but that's not going to stop be from mouthing off about how unions suck. Why? Because I read it somewhere on the Internet, OK? Greedy bastards.
      • 9 Years Ago
      Ha-ha, mofo's, welcome to the world of organized labor! You want to play with the big boys (Ford and GM) now you deal with the problems!
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