POSCO workers stage partial strike over wage dispute

The labor union of POSCO Co., a major steelmaker in Korea, initiated a two-day partial strike on Wednesday due to unresolved wage and compensation disputes with management. This marks the first such strike by POSCO workers since the company's inception in 1968. The strike affected 40 workers at the Pohang plant and 80 at the Gwangyang plant, totaling a 48-hour walkout.

POSCO, which employs around 17,000 people, with approximately 10,100 being union members, stated that the limited workforce participation would likely have minimal impact on steel production. However, the company assured that it would implement measures to avoid disruptions to overall plant operations. The union's primary demands include a 7.1% base pay increase, a 600% performance bonus, 50 company shares per worker, and a 200% holiday bonus.

In contrast, POSCO management has offered a mere 2% increase in base pay, leaving the wage negotiations far apart.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.