POSCO Labor Talks Break Down in 20 Minutes
POSCO labor and management sat down together for the first time since the rejection of the tentative wage agreement, but negotiations were suspended in 20 minutes as they failed to narrow their differences. The union immediately declared a protest in Seoul, stepping up pressure on the company.POSCO
Negotiations between POSCO labor and management collapsed within 20 minutes as they were unable to reach a compromise on the rejected wage agreement. The union swiftly responded by staging a protest in Seoul, escalating the pressure on the company. This was the 30th main negotiation held since the tentative agreement was rejected by union members on November 7.
The company firmly stated that it could not offer anything beyond the existing proposal, warning that a strike could lead to a complete review of the previously proposed plan due to potential damages. Consequently, the POSCO Labor Union, under the Federation of Korean Metalworkers Trade Unions, walked out of the meeting room shortly after the negotiation began.
The union vowed to launch a protest in Seoul, signaling a firm stance. Plans are in place for a rally, involving union executives, delegates, steering committee members, and worker members of the Labor-Management Council, to take place in Seoul on November 17. Prior to this, the union will conduct publicity campaigns during the morning commute at Pohang and Gwangyang Steelworks on November 12 and 13, and will continue these campaigns at all union members' workplaces on weekdays starting November 16.
Initially, on October 30, POSCO labor and management agreed to a tentative deal involving a 2.6% increase in the basic wage; however, the ratification failed as the union member vote resulted in 51.69% opposition, surpassing the majority threshold. The company remains committed to ongoing communication based on the principle of labor-management mutual growth, but the union's growing resistance is expected to make reaching an agreement challenging.
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