POSCO Union Declares First Ever Breakdown in Wage and Collective Bargaining Negotiations

As wage collective bargaining negotiations between POSCO labor and management broke down, the possibility of the company's first-ever strike since its founding has increased.

The POSCO Labor Union of the Korean Metal Workers' Federation announced on the 28th, "The 20th wage collective bargaining meeting held on the 23rd failed to reach an agreement, and we declare the negotiations broken down." The POSCO union is the representative bargaining union among multiple unions within POSCO.

The union pointed out that while they presented 23 wage demands, the company only proposed 5 items without any basic salary increase. They also cited that the content mainly caused intergenerational conflicts as one of the reasons for the breakdown of negotiations.

Accordingly, the POSCO union plans to apply for mediation with the Central Labor Relations Commission and then hold a vote among union members on whether to take industrial action. A union official said, "This is the first time in POSCO's 55-year history that labor-management wage negotiations have broken down," adding, "If industrial action is approved and an actual strike occurs, it will be the first strike in POSCO's history."

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