The POSCO labor union, affiliated with the Korean Confederation of Trade Unions, announced on July 9 that its members voted in favor of strike action.
During the strike vote held from July 8 to July 9, 97.1% of union members participated, with 92.2% voting in favor. Prior to this, POSCO management and the union had held three rounds of negotiations since their initial meeting on June 12.
The union's key demands in the current wage negotiations include wage increases, performance bonuses, and an expansion of the employee stock ownership plan. They argue for a compensation system that allows for long-term sharing of the company's growth results, moving beyond a short-term reward structure.
Following the vote, the union plans to pursue further negotiations and engage in mediation procedures with the Central Labor Relations Commission. Industry analysts believe the union will likely use its strike authorization to negotiate from a stronger position rather than immediately initiating a strike. A union representative stated, "We will consider a strike after assessing the proposals from management, which are expected to be presented on July 14."
A company representative commented, "We will diligently engage in negotiations to reach a reasonable and amicable agreement between labor and management."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.