Hyundai offers to guarantee LG Semicon jobs for 20 months
Feb 01, 1999 - Hyundai Electronics Industries, which will acquire LG Semicon, will guarantee employment of LG workers for 20 months, HEI officials told the government, which is mediating the business swap deal.
LG employees have demanded a five-year employment guarantee, as well as compensation for emotional distress if their company is taken over by Hyundai.
This week, HEI, LG Semicon, the Ministry of Labor and the Ministry of Commerce, Industry and Energy are expected to meet to discuss the labor issue of this "big deal" corporate swap.
Industry sources said that a formal contract between HEI and LG Semicon was likely to be concluded by the end of February, a month later than scheduled under the government-driven corporate restructuring plan.
LG Semicon's manufacturing plants in Chungju and Kumi have been shut down by sit-in strikes or apparent sabotage by workers. |
