Dongkuk Steel Announces COVID-19 Relief Fund Payment... 2020 Wage and Collective Agreement Reached

[Asia Economy Reporter Hwang Yoon-joo] On the 26th, Dongkuk Steel Management and Labor Union signed the '2020 Collective Agreement Signing Ceremony' at the Incheon plant, agreeing on improvements to the personnel system, including the reorganization of the rank structure.

With this, Dongkuk Steel's management and labor union have early concluded this year's wage and collective bargaining agreement following the wage agreement on February 3, continuing the tradition of peaceful labor-management relations since the permanent no-strike declaration in 1994.

Separately, Dongkuk Steel announced that it will provide Onnuri gift certificates worth approximately 1.7 billion KRW as 'COVID-19 Crisis Disaster Relief Support Funds' to all employees, including partner company staff, to overcome the novel coronavirus infection (COVID-19) and revitalize the local economy.

Dongkuk Steel, which has business sites nationwide including Seoul, Incheon, Busan, Pohang, and Dangjin, decided to provide disaster relief support funds to support local small business owners severely affected by the prolonged COVID-19 pandemic as a member of the local community and to participate in overcoming the national crisis.

In particular, it is reported that this disaster relief support fund also carries the meaning of a response to the active participation of the company and labor union in improving corporate structure and overcoming the crisis through changes in working methods to proactively respond to the post-COVID-19 era.

Dongkuk Steel is preparing ahead for the post-COVID-19 era by regularizing remote work once a month for the first time in the steel industry.

Jang Se-wook, Vice Chairman of Dongkuk Steel, said, “I hope this disaster relief support fund will be a small help to all small business owners near our workplaces who are silently enduring these very difficult and challenging times.”

This content was produced with the assistance of AI translation services.