Negotiations² with management broke down over pay and other benefits.

 

The development comes a year after workers at the South Korean carmakers walked out for four months, costing Hyundai $1.5bn in lost production.

 

Strike action by the 45,000 workers the union represents could begin as early as Tuesday next week.

 

South Korea's car industry is subject to recurring³ strikes because of strong unions.

 

"We don't like to strike. But the company has accepted part of our demand only after we staged strikes," union spokesman Kwon Oh-il told Reuters.

 

The demands of the union include bonuses equivalent to eight months of base salary, as well as a 56.25g gold medal for those with 40 years' service.

 

They are also asking for 10 million won for each workers whose children opt⁴ not to attend college. The company already pays tuition for college-going children of employees.

 

The vote in favour of industrial action was announced on Wednesday. However, the companies are engaged in a six-day mediation⁵ period. That means the earliest a strike could start is Tuesday of next week.

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