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SEOUL, July 8 (Reuters) - Unionised workers at South Korea's GM Daewoo Automotive Technology Co., who are demanding a nearly 17 percent pay rise, will hold partial strikes starting from Friday, a union official said on Thursday.

The move came as South Korea's two largest auto makers, Hyundai Motor Co. (KSE:005380.KS - News) and Kia Motors Corp. (KSE:000270.KS - News) settled labour disputes this week, awarding pay rises of just over six percent.

GM Daewoo's union also asked the company to fix a date to buy the Pupyung plant, the former Daewoo Motor's oldest and biggest plant that was left out in an earlier deal to create GM Daewoo. Members of GM Daewoo's union also include workers at the Pupyung plant.

General Motors Corp (NYSE:GM - News), the world's largest auto maker, and its partners took a majority stake in some of the asset of Daewoo Motor in 2002, creating GM Daewoo.

GM Daewoo's plants and repair services would take turns downing tools for two hours per shift a day until next Wednesday, a union official said by telephone.

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Originally posted by powervette@Jul 8 2004, 01:41 PM
They should thank GM for saving Daewoo and their jobs.
Amen!
 
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