Hyundai Motor settles labor dispute with union

Hyundai Motor Chairman Chung Mong Kyu (3rd from L) and labor union leader Kim Kwang Sik (2nd from L) shake hands to signify the Aug. 24 ending of a labor strike at the South Korean automaker. Management and unionists agreed that 277 workers would be laid off instead of the 1,500 Hyundai originally targeted. The company's production lines in Ulsan have been idle since July 20 when union workers walked out over a company decision to fire 1,537 workers.