Due to a Strike by Unionists
Hyundai Steel has decided to shut down its cold rolling mills at Dangjin Steel Works in South Chungcheong Province for two weeks. The labor union’s guerrilla-style strike has disrupted the supply of hot-rolled steel sheets required to produce cold-rolled steel sheets.
Hyundai Steel will shut down its Dangjin Works Cold Steel Mill 1 and 2 for two weeks from 7:00 a.m. on Oct. 12 to 7:00 a.m. on Oct. 26. The steelmaker produces hot-rolled steel sheets, a material for cold-rolled steel sheets, but a labor strike has disrupted the operation of its hot steel mills, forcing the company to shut down its cold steel mills as well.
The company's four labor unions affiliated with the Korean Confederation of Trade Unions (KCTU) started a guerrilla-style strike on Sept. 24, insisting on joint negotiations for wage and collective bargaining for 2022. The unionists expanded the scope of their strike from the thick steel plate and special steel plants in Dangjin Works to the hot steel mills since the beginning of October.
As Hyundai Steel decided to shut down the mills, concerns over steel supply in Korea are deepening. Hyundai Steel's plant in Suncheon, South Jeolla Province, is not participating in the strike, but a major repair of its cold steel production line is scheduled from Oct. 16 to 24.