(LEAD) POSCO workers stage partial strike over wage dispute

SEOUL, September 9 (Yonhap) -- The labor union representing workers at South Korean steel giant POSCO initiated a two-day partial strike on Wednesday due to a deadlock with the company over wage negotiations and other compensation issues. This marks the first strike involving POSCO employees since the firm's inception in 1968. The 48-hour partial strike commenced at 7 a.m., involving approximately 120 workers at POSCO's steel facilities in Pohang and Gwangyang, provinces in the southern region of the nation, according to union spokesman Yi Jae-hyuk.

POSCO, which employs a total of 17,000 individuals, with around 10,100 of them being union members, affirmed that the limited participation of workers in the strike is anticipated to have minimal impact on steel production. The company stated that it plans to implement measures to avert any disruptions to the overall functioning of the plants.

Union President Kim Sung-ho informed that the union is set to launch a 120-hour partial strike at the two plants, beginning at 7 a.m. on September 16. The union has been pushing for a 7.1 percent increase in base pay, a 600 percent performance bonus, 50 company shares for each employee, and a 200 percent holiday bonus. Apart from wage enhancements, the union has also highlighted staffing shortages and aging infrastructure as potential safety hazards that could result in accidents.

On the other hand, management has offered a 2 percent increase in base pay, a significant contrast to the union's demands, leaving the two parties far apart in their wage negotiations.