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20-Sep-07 11:10 [Asia Pacific]
Pay strike looms at South Korea factory Workers at an ethylene manufacturing plant in South Korea are poised to go on strike over pay, it has been reported.
Unionised workers at Yeochun Naphtha Cracking Centre (YNCC) are set to take the strike action after 66 per cent voted in favour of escalating their dispute over pay, according to a source at the company.
Last year the same company suffered a two-week strike over wages.
It also saw a 37-day strike over pay in 2001, reports Reuters.
YNCC, the country's biggest petrochemical firm, is jointly owned by Daelim Industrial Corporation and Hanwha Chemical Corporation and produces 1.8 million tons of ethylene each year.
The strike vote comes just weeks after similar action was averted at carmaker Hyundai, which agreed a new deal with workers over employee benefits including pay.
Hyundai is also to buy back 1.66 million of its shares to give to its unionised employees, reports the Hankyoreh.
Over 500 ground staff took part in a strike which resulted in heavy disruptions to flights in and out of Hong Kong after employee benefits were halved, it has been reported.
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Kevin Rudd, the prime minister of Australia, has brought together his ministerial "razor gang" in order to slash unnecessary spending in order to aid investment in pensions, it has been reported.
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