Asianbiz

Saturday, June 28, 2008

Now Hyundai Motor Co. workers are planning to go on strike

After the truck drivers and the people of South Korea, now it is the workers of Hyundai Motor Co.(SEO: 005380). More than 50% of the 44,757 workers of the Hyundai Motor Co. decided to go on strike in demand for higher pay and protest against government policies. Hyundai spokesman, Chang Kyu, said that the plan was backed by majority of the workers at Hyundai. However, the worst is yet to come; workers of the all four largest South Korean automakers are planning to go on strike. Bloomberg reports:

Hyundai Motor workers will today decide when to stage stoppages. The union is seeking an 8.9 percent raise in base pay and wants the automaker to distribute 30 percent of annual net profit as employee incentives.

The carmaker's workers last year agreed to a pay accord without striking for the first time in 10 years. The package included a 5.8 percent increase in base pay.

It looks like South Korea, the fourth largest economy of Asia, is heading toward a dark future. Already, protest over the US beef import and nation-wide truck drivers’ strike has become a big problem for the government of Lee Myung-bak. Now, this new protest is arising. I hope, Mr. Lee Myung-bak and the automakers work out to solve the problem as soon as possible.

Bill Gates in South Korea

On his Asia tour, last Tuesday, Bill Gates, Chairman, Microsoft Corporation (NASDAQ:MSFT), met with the President of South Korea, Lee Myung-bak. Mr.Gates forecasted a vast shift in Internet technology in the next ten years. In a press conference before the meeting with the President, Mr. Gates told the reporters that the people around the world are moving toward the second decade of the digital age. The internet had been operating for ten years and the second ten years will be different. After 2001, this is Bill Gates’ first tour in South Korea. International Herald Tribune reports:

The Blue House said in a statement that Microsoft, the South Korean government and South Korean companies will invest a total of US$313 million (€202 million) in information technology for vehicles, games and education.

Earlier, Microsoft Corp. and automakers Hyundai Motor Inc. and Kia Motors Corp. announced a deal whereby the South Korean companies will use Microsoft's in-car software, which allows people to control personal music players and telephones with voice commands.

The companies also said they planned to set up an automobile IT innovation center. Hyundai and its affiliate Kia together form the world's sixth-largest automotive group.

South Korea’s President Lee Myung-bak mentioned Bill Gates as member to his Global advisory committee. The projects declared during this visit will have major impact on South Korea’s economy. Microsoft also announced its plan to invest $280 million to build a research and development facility in Beijing and double the R&D staff to 3000 within three to five years.

Related articles:

International Herald Tribune

AFP

microsoft