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The management and union of Hyundai Mipo Dockyard, an affiliate of Hyundai Heavy Industries, said Friday they agreed to arrange paid leave for the shipyard's workers idled by a lack of orders.
The agreement is a compromise for the management, which last month had proposed up to one month of unpaid leave to deal with falling orders and an industrywide slump in the shipbuilding business. The company had also suggested a temporary suspension of fringe benefits but was rejected by the union, officials said.
"We cannot accept unpaid leave, which will directly affect the livelihoods of our members," the union said. "Such an act would pass on the cost of keeping idled workers to the employees."
The company-union joint committee had met 13 times since Jan. 23 to work out a deal, with both sides aware that the business slump will deepen in the latter half of this year, leaving employees without work.
"The two sides continue to negotiate for the company's survival, leaving all possibilities open," an official said.
Hyundai Samho Heavy Industries, another affiliate of Hyundai Heavy Industries, started unpaid leave in October last year for the first time since the company's launch in 1999 due to financial troubles. (Yonhap)
