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Business - No factory for old men: Hyundai Motor seeks to end seniority-based pay

In a bid to curb rising domestic labor costs, Hyundai Motor Co is seeking to base wages on merit not seniority in an overhaul of a decades-old salary system that puts the South Korean firm on a collision course with its activist union. South Korea is the world`s fastest ageing major economy, and high labor costs are eroding its manufacturers` competitive edge as economic growth slows. If Hyundai Motor, one of South Korea`s biggest employers, succeeds in revamping its pay structure, other companies are likely to follow suit. `Our wages have reached a critical limit as a manufacturing company,` Hyundai Chief Executive Yoon Gap-han said in a letter to workers proposing the change, which was seen by Reuters.

Thursday, April 16, 2015  22:17


Business - Hyundai`s Daddy-Daughter Spot You Must Watch to Believe

Consumer brands continue to focus more on dads. What a concept. It`s about time.If you follow my posts in this blog, you`ve read about consumer brands that continue to promote a negative image of fathers as bungling, clueless parents in contrast to brands that understand the important role fathers play in children`s lives by portraying fathers...

Friday, April 17, 2015  00:22

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