Car parts suppliers are calling for end to a strike at Hyundai and Kia which they say is causing them massive losses.
The Korea Auto Industries Cooperative Association in a statement on Monday said, "The Hyundai labor union has gone on strike 22 times in 26 years since its establishment in 1987. The total number of days on strike was 382, causing over W13.3 trillion (US$1=W1,113) of production losses."
It said an all-out strike can cause a production loss of 7,100 cars a day worth W150 billion, which in turn leads to W79.5 billion in daily losses for primary suppliers.
The Hyundai-Kia Automotive Group on Monday said a partial strike from Aug. 20 to 26 delayed production of 20,700 cars worth W420 billion.
The auto association said that the average annual salary at Hyundai is W94 million, while that of its suppliers ranges between W37 million and W48 million.
"We have felt hugely underprivileged watching the negotiations between Hyundai's management and labor union over the years, but endured it because if Hyundai prospers we also grow," it added.