POSCO union votes down tentative wage deal
Unionized workers at Korean steelmaker POSCO on Saturday voted down a tentative wage agreement reached with management that includes a 2.6 percent increase in base pay, union officials said. The vote showed 51.69 percent of the unionized workers opposed the wage agreement, while 48.31 percent approved it, according to the union. The tentative wage deal includes a 2.6 percent hike in base pay, a…
Korean steelmaker POSCO's union members rejected a tentative wage deal on Saturday, according to union officials. The vote saw 51.69% of unionized workers oppose the agreement, while 48.31% supported it. The proposed wage deal entailed a 2.6% increase in base pay, a one-time payment of 6 million won ($4,500), and enhanced benefits.
The union had originally sought a 7.1% boost 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. Union officials indicated that further negotiations may be necessary due to the significant opposition. The tentative wage agreement was reached between the union and management on October 30, following approximately 30 rounds of talks beginning in June.
In September, POSCO unionized workers went on two partial strikes to push for higher wages and bonuses.
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- POSCO union votes down tentative wage deal koreatimes.co.kr
- POSCO union votes down tentative wage deal en.yna.co.kr
