Korean Govt Official Calls Upon Kumho Union to Make “Sacrifices”
Korea’s Strategy and Finance minister has urged the union representing Kumho Tires employees to make a “necessary” sacrifice for the good of the financially troubled parent company. The Korea Times writes that Yoon Jeung-hyun encouraged unionised workers to work together with Kumho management to assist the Kumho Asiana Group.
“In the past, Hyundai and Daewoo units have survived through a drastic self-imposed restructuring scheme. If Kumho Tire is a competitive corporate entity, it will follow their footsteps. To do so, both management and workers must make sacrifices. But unfortunately, Kumho Tires’ labour union has refused to accept restructuring,” Yoon said, referring to opposition to restructuring measures that include large-scale layoffs and wage reductions.