August 27, 2017 - Mr. Y. S. Han, CEO and President of Hyundai Mipo dockyard Co., Ltd. and W. S. Kang, the convener of labor union formally sealed the agreement to iron out their negotiation on the wage and collective bargaining for the year 2017, and consequently continued the symbiotic relationship, after staging no strikes for 21 years in a row since year 1997.

This agreement is expected to provide a boost to the company to overcome the current difficulties and a good sample to other shipbuilders in Korea who are struggling to stay afloat on falling orders amid the worldwide industry slump.

The labor union of Hyundai Mipo dockyard Co., Ltd. voted for a tentative agreement on July 28, 2017, of 2,378 union members, 2,316 or 97.4 percent, participated in the vote and 1,499 or 64.7 percent of the ballots were in favor of an agreement between the management and union.