POSCO Union Approves Dispute Action in Member Vote... 72% in Favor

The POSCO labor union has approved industrial action.

The Korea Metal Workers' Union POSCO Labor Union (POSCO Union), the representative bargaining union of POSCO under the Federation of Korean Trade Unions, announced on the 25th that it approved industrial action in a member vote on next year's wage negotiation proposal.

POSCO.

From 5 a.m. to 5 p.m. on the same day, a mobile vote on whether to take industrial action was conducted among union members, resulting in 5,733 votes (72.25%) in favor out of 7,934 total members. There were 1,623 votes against.

According to the union's regulations, for the POSCO Union to proceed with industrial action, a majority of the total membership?not just the voting members?must approve.

Previously, the union held 11 rounds of negotiations with management starting from the 17th but failed to reach an agreement. In the negotiations, management proposed an 80,000 KRW increase in the base pay and a one-time payment of 6 million KRW, while the union demanded an 8.3% increase in base pay and a 300% bonus.