SOUTH KOREA: Thousands of workers hold may day rally and protest over general motors take over of the Daewoo motor company

Record ID: 629289

  • Title: SOUTH KOREA: Thousands of workers hold may day rally and protest over general motors take over of the Daewoo motor company
  • Date: 1st May 2002
  • Summary: SMV MEN SITTING ON GROUND CHANTING SLOGANS VARIOUS OF PERFORMANCE BY FOREIGN WORKERS, DEMANDING BETTER WORKDING CONDITIONS SCU (SOUNDBITE) (English) YOON YOUNG-MO SAYING: "We believe that Korean economy was capable of sustaining a company like Daewoo Motors. It was important for Korean automobile industry to have Daewoo Motor operating as a Korean company GM, not handed o
  • Embargoed: 16th May 2002 13:00
  • Keywords:
  • Location: SEOUL, SOUTH KOREA
  • Country: South Korea
  • Topics: Employment,Domestic Politics
  • Reuters ID: LVA7RMUIYUMXNXQMK4WIXJW62C59
  • Story Text: Thousands of South Korean workers have observed May Day in Seoul, and protested against the U.S. auto giant General Motors' takeover of Daewoo Motor.
    More than ten thousand workers from South Korea's millitant umbrella union group Korean Confederation of Trade Unions (KCTU) held a massive rally at a park in Seoul's business district on Wednesday (May 1).
    Marking the 112th Labour Day, the workers demanded better working conditions and improved treatment for minority workers including the handicapped and foreigners.
    "Main theme of this May Day was, is working hour reduction withoughout any discriminaiton against marginal workers -- workers like marginal workers, handicapped workers -- majority of workers numbering about seven million in Korea who are in irregular employment," said KCTU spokesman Yoon Young-mo.
    The minority workers held performances, symbolising their hardships in the work place.
    The unionists also spoke out against the takeover of Daewoo Motor by U.S.'s General Motors (GM), fearing restructring and subsequent job losses.
    "We believe that Korean economy was capable of sustaining a company like Daewoo Motors. It was important for Korean automobile industry to have Daewoo Motor operating as a Korean company GM, not handed over to GM or any other foreign operation.
    But the workers' voice was not strong enough to change the government policy," said KCTU spokesman Yoon.
    GM signed on Tuesday (April 30) a final agreement to buy key assets of bankrupt Daewoo Motor for $251 million cash, a major milestone in South Korea's reforms of its debt-ridden conglomerates.
    The GM-Daewoo joint venture will operate two plants in South Korea and one in Vietnam. It also agreed to assume eight sales units overseas, including seven in Europe and one in Puerto Rico, and one parts unit in the Netherlands.
    In other major corporate news in Korea this week - the US company Micron Technology's bid to takeover ailing Korean chipmaker Hynix was rejected by the Hynix board - giving the companies unionised work something to cheer.
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