Hyundai Motor's (KRX:005380) 40,000-member labor union plans to carry out a partial strike throughout this week after failing to reach a wage agreement with the automaker's management, Yonhap News reported Tuesday.

The union scheduled four-hour partial strikes on Monday and Tuesday, with plans to continue next week, according to the report.

The union is seeking a 149,600-won increase in monthly base pay and a performance bonus equivalent to 30% of the net profit in 2025. The automaker has offered an 80,000-won monthly base-pay raise, a performance bonus equivalent to 350% of monthly salary plus 10 million won, along with 15 company shares, the report said.

Hyundai Motor did not immediately respond to MT Newswires' request for comment.

Shares of the automaker fell nearly 5% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)