[콕e영상] Metals union “Hyundai Heavy Industries is in deficit… Chung Mong-Joon’s family has a dividend party of 290 billion won”

[이뉴스투데이 안경선 기자] “The company is struggling with a deficit, and as the excuse of the deficit is driving workers into the streets, the shareholders themselves have held a dividend party of 290 billion won for three years.”

On the morning of the 23rd, in front of the Hyundai headquarters in Gye-dong, Jongno-gu, Seoul, the National Metal Workers’ Union (hereinafter referred to as the metals union) held a’press conference to expose Hyundai Heavy Industries’ illegal succession of chaebols and private interests’ management methods, and uncovered the management method of private interests of the main shareholder, Mong-Joon Chung’s family. I said this.

Han Seong-gyu, vice chairman of the KCTU said, “Hyundai Heavy Industries drove workers to the streets through massive restructuring under the circumstances of the shipbuilding industry crisis in 2015, and continued restructuring even during the period of consecutive surpluses in 2016 and 2017.” .

The KCTU argued that “Hyundai Heavy Industries improved management efficiency and shareholder value, and established a holding company through human spin-off, but the share of the Chung Mong-jun family increased from 10.15% to 25.8%, expanding only its control.” The acquired oil bank was incorporated into a holding company without being able to recover the debt interest, which deteriorated the management of Hyundai Heavy Industries.”

The KCTU argued that the damage caused by such an illegal chaebol succession and self-interest management method was intact by the workers of Hyundai Heavy Industries, and pointed out that if the instability of corporate management persists, serious and industrial accidents could occur constantly.

“All the workers at Hyundai Heavy Industries are working in an unstable state in a hurry,” said Cho, Kyung-geun, head of the Hyundai Heavy Industries Branch of the Metals Workers’ Union. The reason that made all of this was the part of management succession and the accumulation of capital by the Chung Mong-jun family,” he said. “There are serious and industrial accidents that do not end here.”

Meanwhile, the metallurgical union announced that it will attend the general shareholders’ meeting of Korea Shipbuilding & Marine Engineering, which is a surviving company of Hyundai Heavy Industries, to be held tomorrow (24th) to expose Hyundai Heavy Industries’ illegal management practices and to carry out a law enactment campaign to guarantee basic labor rights.

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