POSCO workers stage 2nd partial strike over wage demands

Korean steel manufacturer POSCO faced a second partial strike on Wednesday as unionized employees pushed for higher wages. Workers at the company's plants in Pohang and Gwangyang went on strike, marking the second walkout in less than a week. The union accused POSCO of failing to reach an agreement on compensation during wage negotiations, leading to the industrial action.

With about 17,000 employees in total, 10,100 of whom are union members, the strike represents a significant escalation in labor disputes. The second partial strike follows a 48-hour walkout that began on the previous Wednesday, involving 120 workers. This is the first strike by POSCO workers since the company's establishment in 1968.

The union's demands include a 7.1% increase in base pay, a performance bonus equivalent to 600% of base pay, 50 company shares per worker, and a holiday bonus equal to 200% of base pay. While the union claims these measures would address their grievances, POSCO maintains that there will be minimal disruption to plant operations. Only around 60 workers from each plant are expected to join the strike, according to the company.

Despite the partial nature of the strike, the union fears the disruption could be considerable due to the larger number of participants compared to the first walkout. The ongoing labor dispute highlights the challenges companies face in balancing employee demands with operational efficiency.