POSCO Labor and Management Conclude 2025 Wage Agreement with 110,000 Won Base Salary Increase

Tentative Agreement Approved by Union Vote
Concluded Without Labor Disputes or Confrontation

On September 17, POSCO labor and management held the signing ceremony for the 2025 wage and collective agreement at the POSCO Center in Gangnam-gu, Seoul, with President Lee Heegeun, Labor Union Chairman Kim Seongho, and other negotiation committee members in attendance, officially concluding the agreement. This signing ceremony followed the tentative agreement reached on September 5 and the approval by union members through a vote on September 13.

POSCO labor and management held the signing ceremony for the 2025 wage and collective agreement on the 17th at the POSCO Center in Seoul and took a commemorative photo. From the left, Kim Sungho, Chairman of the Labor Union, and Lee Heegeun, President of POSCO. Photo by POSCO

This year’s wage and collective agreement negotiations involved intense debates to narrow the gap between labor and management, but were concluded without any labor disputes or confrontations. The key points of the agreement include: ▲ an increase of 110,000 won in base salary ▲ a 2.5 million won contribution for strengthening steel competitiveness and a 4 million won employee stock purchase support fund ▲ a 500,000 won local gift certificate to promote the practice of Korean labor-management culture, including support for local small businesses and participation in the government’s livelihood recovery initiatives ▲ the introduction of a PI (Performance Incentive) system to strengthen the link between company performance and employee compensation ▲ and expanded use of the right to stop work to further enhance workplace safety.

A POSCO representative stated, “This year’s wage and collective agreement broke the pattern of repeated negotiation breakdowns and strike votes that have occurred in recent years. Instead, labor and management united around the common goal of restoring steel industry competitiveness through mutual growth and trust. Moving forward, we will continue to work together, prioritizing on-site safety, and focus all our capabilities on securing future competitiveness, including world-class quality and technological excellence.”

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