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…
The wage negotiations between POSCO, South Korea's largest steelmaker, and its union have reached a stalemate, putting the company on notice that it may face its first work stoppage in its 58-year history. The union, which represents thousands of employees, has warned it will stage a 48-hour partial strike beginning Wednesday unless the firm agrees to a revised wage proposal.
If the talks continue to stall, the union threatens a more severe 120-hour walkout on September 16. The union's demands include a 7.1 percent raise in base salaries, incentives worth 600 percent of base pay, 50 shares through an employee stock ownership plan, and holiday bonuses equivalent to 200 percent. Union leader Kim Seong-ho vowed to proceed with the strike if the company does not alter its stance, vowing to halt operations at key facilities in Gwangyang and Pohang.
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- POSCO union warns of 1st strike as wage talks falter koreatimes.co.kr
