POSCO union warns of 1st strike as wage talks falter
POSCO faces its first strike in its 58-year history as wage talks with its union remain deadlocked, with the latter threatening a 48-hour partial walkout on Wednesday if the steelmaker fails to present a revised wage offer. The union said on Tuesday it would launch the strike on Wednesday if wage talks fail to reach a deal by midnight. It plans to halt all production lines at the pickling plant…
POSCO, a major steelmaker in South Korea, is on the brink of its first-ever strike, with union officials warning of a 48-hour partial walkout if wage negotiations fail to reach a satisfactory agreement. The union has given the company until midnight to present a revised wage offer, after which production at two key facilities will be halted.
If the dispute remains unresolved, the union threatens a second, more extensive strike lasting 120 hours on September 16. Union leader Kim Seong-ho delivered his ultimatum at a rally outside the company's Seoul headquarters, emphasizing the union's demands for a 7.1% increase in base wages, incentives worth 600% of base pay, 50 shares via an employee stock ownership plan, and holiday bonuses equal to 200% of base pay.
Should the company persist in its refusal to meet the union's demands, the strike will proceed as scheduled, marking a significant disruption in the steel industry's history.
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- POSCO union warns of 1st strike as wage talks falter koreatimes.co.kr
