Kia signed a win-win agreement to resolve the

A few days ago, the government and Hyundai and Kia signed a win-win agreement to resolve the dual structure of the labor market. The conservative newspaper reported it as if Hyundai Motor and Kia Motors had made some great concessions. Hyundai and Kia Motors paid 12 billion won for the win-win agreement.

By the way, Hyundai Motor and Kia Motors posted record-high operating profits in 2023. Hyundai and Kia Motors released a press release stating that they also beat Samsung Electronics when announcing their 2023 operating results.

Hyundai Motor Company has 15 trillion won, Kia Motors Company has 11 trillion won, and the operating profit of the two companies is 26 trillion won. Then, how much of the operating profit of the two companies last year will the money offered for the win-win agreement be? 0.046 percent! Is that right?

Not only that. Hyundai Motor Company's sales and operating profit in the first quarter of this year, which were recently announced, amounted to 40 trillion won and 3.574 trillion won. The carmaker's operating profit is 3.4 trillion won. More importantly, Hyundai's operating profit ratio stood at 8.7 percent, ahead of Tesla's 5.5 percent in the first quarter. Kia Motors' operating profit ratio in the first quarter hit an all-time high of 13.1 percent.

Nevertheless, only 12 billion won was offered for the win-win agreement. Everyone knows that Hyundai Motor and Guy's record-high operating profit margins include unit prices and technology theft from exclusive subcontracting structures. If so, isn't the intention of the win-win agreement too obvious?