Hyundai Mipo stock enters labor vote after tentative pay deal
Published on 11/11/2026 at 00:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSLabor talks move toward resolution
- HD Hyundai Heavy Industries and its union reached a second tentative agreement after a rejected September proposal and partial strikes.
- The agreement follows the integration of Hyundai Mipo into HD Hyundai Heavy Industries and could reduce labor-related uncertainty at the combined shipbuilder.
HD Hyundai Heavy Industries and its union reached a second tentative agreement on wages and collective bargaining on Friday, October 23, 2026. The Herald Business reported that the agreement followed 26 rounds of talks at the company's Ulsan headquarters and would be submitted to union members for ratification.
The proposed package includes a 120,000 won base-pay increase, including a 55,000 won seniority increment. It also provides a one-time payment of 11.5 million won plus 200 percent of contracted wages, as well as welfare points worth 300,000 points for this year.
Agreement follows prolonged labor dispute
The negotiations had remained unsettled after employees rejected an earlier tentative agreement reached on September 30. Partial strike action of seven hours a day had begun earlier in the week, raising the prospect of disruption at the shipbuilder.
The agreement also changes the severance-pay calculation basis for workers covered by the former HD Hyundai Mipo and HD Hyundai Heavy Industries arrangements. The Herald Business said employees would be able to choose any three consecutive months from the preceding four months for the calculation.
Merger reshapes the shipbuilder
Hyundai Mipo joined HD Hyundai Heavy Industries on December 1, 2025, according to the company's website and the Hyundai Mipo topic page. The combined business spans shipbuilding, marine energy, naval and medium-sized vessels, and engine machinery, with operations centered in Ulsan, South Korea.
HD Hyundai Heavy Industries says its shipbuilding unit builds advanced environmentally oriented vessels, while its naval and medium-sized vessel business focuses on warships, specialized vessels and commercial ships. Its engine machinery division supplies marine and land-based engines, including dual-fuel systems.
Hyundai Mipo company profile
- Company: Hyundai Mipo
- ISIN: KR7010620003
- Successor: HD Hyundai Heavy Industries
- Headquarters: Ulsan, South Korea
South Korean shipbuilding shares remain sensitive to order momentum, labor relations and execution across the industry; the KOSPI provides the broader domestic market context.
