South Korean government turns to repression to curb protests
Hyundai Motors, whose 44,000-strong workforce closed down production lines for two hours at plants in Ulsan, Jeonju and Asan, has announced it is filing a petition for union leaders to be arrested and charged with obstructing its business.
Some 29,000 workers at Hyundai affiliate Kia Motors also took part in the brief stoppage, closing plants in Sohari, Hwaseong and Gwangju. Auto parts manufacturers Mando and Halla Climate Control were affected as well. The vast majority of workers at Daewoo Auto and Ssangyong Motors reportedly did not strike. Outside of the auto industry, few KCTU members participated.
Despite its limited scope, the strike contributed to the general panic in the South Korean corporate elite. The stock market Kopsi index plunged 2.6 percent in trading yesterday, the largest decline in three months and the 18th consecutive day of falls. The stock sell-off has been a response to high oil prices, the governments lowering of economic growth expectations from 6 percent to 4.7 percent, rising inflation and the fear of political instability.
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