About 610 shipbuilding employees will take leave until October 22, and get paid 70% of their salary during the period. HHI plans to execute this rotational leave system with 7% of its 8,400 shipbuilding workers and further cut its idle labour force through the first half of next year.
HHI's subsidiary yard Hyundai Samho Heavy Industries has reached a similar deal with its union.
HHI has been forced to pare back activities over the past 18 months as its orderbook has dwindled. It has sold assets, slashed its workforce and shuttered some drydocks, much of which has found its senior management in direct confrontation with the unions who have initiated strikes this year.