POSCO Labor Union Donates 100 Million Won in Pohang Sarang Gift Certificates for Warm Support

Best Efforts for Social Responsibility... Donation of Pohang Love Gift Certificates for Neighbors in Need and Local Economy

Mayor Lee Kang-deok, "Welcome and Thanks for the Willingness to Revitalize the Local Economy and Share with Neighbors"

Pohang City conveyed warm year-end news as the POSCO Labor Union visited Pohang City on the 27th and donated 100 million KRW worth of Pohang Love Gift Certificates to support vulnerable groups in the region.

On the 27th, the POSCO Labor Union visited Pohang City and donated 100 million won worth of Pohang Love Gift Certificates to support vulnerable groups in the region. Photo by Pohang City

This donation was made from the labor-management coexistence fund of the union and delivered in the form of Pohang Love Gift Certificates, which are issued to revitalize the local economy. The POSCO Labor Union stated that this donation aims to fulfill social responsibility and contribute to the virtuous cycle of the regional economy.

In addition to the 100 million KRW donation, the POSCO Labor Union also decided to purchase 4 billion KRW worth of Pohang Love Gift Certificates from the labor-management coexistence fund to strongly support the revitalization of the local economy, drawing further attention.

At the delivery ceremony, Mayor Lee Kang-deok welcomed the signing of the wage negotiation agreement by meeting with POSCO Labor Union Chairman Kim Seong-ho and other executives. He also urged them to continue efforts for facility investments to ensure safe workplaces and to improve workers' welfare and rights.

He especially requested the labor union to fulfill its role amid the current downturn in the regional economy caused by the recent steel industry slump, the secondary battery chasm, and international geopolitical situations.

In response, POSCO Labor Union Chairman Kim Seong-ho expressed the union’s commitment to fulfilling its social responsibilities and announced plans to devise coexistence projects with small business owners to support the stagnant local economy. He also conveyed the union’s intention to actively participate in revitalizing the local economy through practical actions in daily life, such as helping traditional markets.

Mayor Lee Kang-deok said, “I deeply appreciate the POSCO Labor Union’s determination to revitalize the local economy and share with neighbors,” adding, “We expect the labor union to play a role in overcoming the steel industry crisis and enhancing labor rights. The city will also work together with the POSCO Labor Union to develop measures to revitalize the local economy.”

The POSCO Labor Union began labor-management meetings on June 27, 2024, and after 13 main negotiations and 24 working-level negotiations over six months, wage negotiations were concluded following a meeting with Mayor Lee Kang-deok on the 17th.

On the 24th, the POSCO Labor Union held a vote on the tentative agreement, which was approved with 69.33% of union members in favor. The approved agreement includes a 100,000 KRW increase in base salary, the introduction of summer vacation, and a contribution of 8 billion KRW to the labor-management coexistence fund.

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