Hanjin Heavy workers go on strike over job cuts.
Workers at Hanjin Heavy Industries Co. went on strike Friday to protest the company's planned workforce reduction, company officials said. Hanjin Heavy's 1,400-member union and management have been in negotiations over the company's job reduction plan for a month, but the two sides have yet to narrow their differences.
Shares of Hanjin Heavy were trading at 20,900 won on the Seoul bourse as of 9:41 a.m., down 2.11 percent.
"Around 1,100 members are now participating in the strike," said Kim Sang-wook, an official at Hanjin Heavy's labor union. "We will continue the walk out until our demands are met."