[THE INVESTOR] Korea Federation of SMEs Chairman Park Sung-taek said on Sept. 28 that he is considering launching a boycott campaign on Hyundai Motor products.

Speaking to the media, Park said that Hyundai Motor union’s strike was causing massive damages to small and medium enterprises and that a boycott could be launched.

“Hyundai Motor is the key culprit for causing the pay gap between large companies and SMEs,” Park said. 




“Hyundai Motor grew into a global company with the support of the government, as (the union) ignored market principles and went ahead with the strike, a boycott is being considered.”

Park estimated that the strike was causing SMEs damages of up to 90 billion won (US$82.21 million) on a daily basis.

He also criticized young members of chaebol families establishing new companies.

Saying that ventures should be left to “ordinary young people,” Park said that conglomerates should focus on improving the country’s core industries.

By Choi He-suk (cheesuk@heraldcorp.com)