HD Hyundai Heavy Industries (329180.KS) and its labor union remain without a wage agreement after the union rejected three company proposals, despite management offering record variable compensation and a total package estimated at 40 million won per union member. The union is seeking a 149,600-won base-pay increase excluding seniority raises, a 100% bonus increase and at least 30% of operating profit for employees. The company’s third proposal included a 110,000-won base-pay increase including seniority raises, an incentive bonus of 10 million won plus 200%, and 500,000 won in gift certificates. The offer also included expanded benefits and workplace programs. The estimated average package is 10 million won above last year’s 29.95 million won per worker and includes the highest variable pay in the company’s history. The dispute has shifted toward how much of the earnings recovery should become permanent fixed wages rather than performance-linked compensation. Talks failed to produce a settlement before Chuseok after eight days of intensive negotiations, and the union has warned of escalating industrial action following four-hour and seven-hour partial strikes. Further action will be considered after the holiday. The impasse comes as HD Hyundai Heavy Industries benefits from higher-priced vessel orders and stabilizing production, while prolonged strikes could disrupt deliveries, productivity, suppliers and the regional economy.