After more than a month of strikes, unionized workers at Kumho Tire Co.’s factories have halted their strike and will return to work. The union decided to suspend its strike so it can elect a new union leader.
“We put a temporarily hold on the walkout because we cannot continue the strike while holding an election for the new leadership simultaneously,” a labor union official said.
Unionized workers began an all out strike on Aug. 17. While Kumho shutdown production facilities in Gwangju as part of the strike, the tiremaker said it will open production lines starting Sept. 21.
Losses from the strike have hit an estimated $129 million, Kumho said.