>From: "T Murphy" <[EMAIL PROTECTED]> >To: [EMAIL PROTECTED] >Subject: sfb: Korean Auto unions declare nationwide strike > >Auto unions declare nationwide strike; Action aimed at preventing Daewoo >Motor's foreign sale > > > Unions at the nation's four automakers went on a strike yesterday in >protest of the government's possible sale of Daewoo Motor to a foreign >company, casting new clouds over the ongoing international bidding for the >company. > > About 73,000 union workers from Hyundai Motor, Daewoo Motor, Kia Motors >and Ssangyong Motor walked out declaring a one week strike at their >respective plants. Union leaders vow to prevent Daewoo Motor from falling >into the hands of foreigners. > > Hyundai Motor's 35,000 unionized workers in the Ulsan, Asan and Chonju >plants, who had held a partial strike April 3 and 4 in support of Daewoo >Motor workers, went on a full-scale strike yesterday morning, while >Ssangyong Motor workers in the Pyongtaek plant also walked out. Kia Motors >unionists stayed away from assembly lines for four hours in the afternoon >and will launch their day-long strike today. Some 10,000 workers of Daewoo >Motor have been on strike since March 31. > > The joint strike, organized by the Korea Metal Workers Federation, is >scheduled to last until April 12, but may be extended further, depending on >circumstances, according to KMWF spokesmen. > > The strike is expected to have negative impact on the international >bidding for Daewoo Motor, while dealing a serious blow to the nation's auto >exports, industry analysts forecast. > > The aspiring foreign buyers of Daewoo - General Motors, Ford Motor, >DaimlerChrysler and Fiat - are already showing signs of uneasiness over the >militancy of local labor unions and their fierce resistance to a foreign >takeover, they said. > > Rudolph Schlais, president of GM Asia Pacific, said the company was >awaiting more certainty on the situation of Daewoo Motor before pursuing its >planned acquisition. > > "In the face of strong resistance from the labor circles and the >widespread public sentiment against foreign control of Daewoo, it is >questionable that the government and creditors will implement the sale in a >fair and transparent manner," said an official at the Federation of Korean >Industries. He also speculated that the general strike may be a "show of >force" intended to obtain a stronger commitment to job security from foreign >buyers. > > Meanwhile, the Ministry of Commerce, Industry and Energy said that the >strikes will cost the four automakers about $44 million in lost exports per >day and over $200 million for the week-long walkout. > > Daewoo Motor is estimated to have had lost revenues worth about 55 >billion won ($49.5 million) so far, and is expected to suffer an additional >27.5 billion won in losses by April 12. Losses at Hyundai and Ssangyong will >also amount to 310 billion won and 35 billion won, respectively, while Kia >will suffer output losses worth 15,000 units. > > The strike comes amid the intensifying debate over the sale of Daewoo >to a foreign firm. Recent opinion polls show the overwhelming majority of >Koreans support the sale of Daewoo to a Korean-foreign consortium, whereas >top government policy planners have indicated that they favor foreigners in >the auction. > > For their part, Daewoo Motor workers fear that a foreign takeover will >result in mass layoffs and sharp pay cuts. > > > >Updated: 04/07/2000 >by Yoo Cheong-mo Staff reporter > > > > >______________________________________________________ >Get Your Private, Free Email at http://www.hotmail.com > > >=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= > The Socialism From Below listserve was created by the New Socialist > Group to discuss and debate socialist activism, share news relating to > revolutionary struggles around the world, assist in organizing projects > of socialist renewal and on the ground activism. Views expressed on > the SFB list do not necessarily represent the views of the New Socialist > Group as an organization or those of its members. For more information on > the New Socialist Group and its politics and its activities contact > [EMAIL PROTECTED] or visit www.web.net/~newsoc >=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= >To join or leave the Socialism From Below list, send an email to [EMAIL PROTECTED] > __________________________________ KOMINFORM P.O. Box 66 00841 Helsinki - Finland +358-40-7177941, fax +358-9-7591081 e-mail [EMAIL PROTECTED] http://www.kominf.pp.fi ___________________________________ [EMAIL PROTECTED] Subscribe/unsubscribe messages mailto:[EMAIL PROTECTED] ___________________________________
