POSCO workers stage partial strike over wage dispute

Seoul, September 9 (Yonhap) -- A two-day partial strike was launched on Wednesday by South Korean steelmaker POSCO's labor union, citing disagreements over wages and compensation. This marks the first strike by POSCO workers since the company's inception in 1968. The strike, lasting 48 hours, commenced at 7 a.m. and involved 40 workers at the Pohang plant and 80 at the Gwangyang plant, according to the union.

POSCO employs around 17,000 individuals, with approximately 10,100 being union members. The company anticipates minimal disruption to steel production due to the limited number of workers participating in the strike, and plans to implement measures to avoid affecting overall plant operations.

The union is demanding a 7.1 percent increase in base pay, a 600 percent performance bonus, 50 company shares for each worker, and a 200 percent holiday bonus. In contrast, management has offered a modest 2 percent rise in base pay, resulting in a significant gap between the two parties on key wage issues.