[Yonhap News Photo]
South Korea's leading Hyundai Motor posted a 7.5 drop in its third-quarter net profit because of strikes and slow sales at home and abroad.
In the July-September period, Hyundai said its net profit fell to 1.12 trillion won (991 million US dollars) from 1.21 trillion won a year earlier. Sales were down 5.7 percent on year to 22.08 trillion won and operating profit dropped 29 percent to 1.07 trillion won.
Hyundai normalized operations this month following a series of walkouts that cost 2.7 billion US dollars for three months.
Hyundai's executives have proposed a voluntary 10 percent cut in their salaries to tide over worsening business conditions. Last year the company posted an operating profit of some 6.37 trillion won, down 15.8 percent from a year ago.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
