By Shahrzad Pourriahi, Crain News Service
SEOUL (Aug. 19, 2015) — Union-member workers for Kumho Tire Co. Ltd. went on a strike on Aug. 17 after they failed to agree with management on adopting a wage-peak system, according to a report from Yonhap News Agency.
According to the state news agency, workers at Kumho Tire's three production facilities — including the one in Gwangju, about 200 miles south of Seoul — were involved in the eight-hour strike.
The suggested wage peak system allows employees to accept a reduced salary in exchange for working until an extended retirement age set by the company, Yonhap said.
This report appeared on the website of European Rubber Journal, a UK-based sister publication of Tire Business.