Korea’s top yards workers ready for strike

By Finance

The labour unions of the top three shipbuilders in South Korea plan to go an indefinite strike starting from September 9.

Up to 28,000 employees of Hyundai Heavy Industries (HHI), Daewoo Shipbuilding and Marine Engineering (DSME) and Samsung Heavy Industries (SHI) will protest a proposed salary freeze.

The wage freeze comes amid the heavy losses posted by the trio in the second quarter of the year as well as sluggish orderbook and a downturn in the offshore oil and gas industry.

STX Offshore & Shipbuilding and Hanjin Heavy Industries & Construction, who also face financial difficulties, have imposed the freeze and in danger of strikes too.

Korea’s top yards workers ready for strike