Hyundai Workers in South Korea Agree to End Monthlong Strike

Temporary workers at a Hyundai

Motor manufacturing plant in South Korea reportedly have agreed to end a near-monthlong strike that was inhibiting domestic production of subcompact cars, such as the Hyundai Accent.

"We have agreed to end a strike today and start talks with management," said Kim Sang-min, of the Korean Metal Worker's Union, which represents the striking temp workers, according to Reuters.

The workers began their strike on Nov. 15, seeking job security at a time when employers such as Hyundai are keen on hiring contract staff to maintain flexibility and cut costs. But the workers faced pressure by management and some regular employees to end their strike action.

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Hyundai has also sought 16.2 billion won ($14.2 billion) in damages in a suit filed against the striking temp workers.

The sit-in was expensive for Hyundai, resulting in 315 billion won ($277 million) in lost production as of Thursday morning, Reuters reported. The strike also caused Hyundai to report the worst November sales among South Korea's automakers.