POSCO union workers in Seoul are set to vote this Saturday on a tentative wage deal that includes a 2.6% base‑pay increase and a one‑off payment of 6 million won, a proposal the union says falls short of its 7.1% demand.
The steelmaker’s union, which has held 30 rounds of negotiations with management since June, staged two partial strikes in September to press for higher wages and bonuses. The union has warned that it could launch an indefinite strike starting November 2 if no acceptable offer is presented.
The current tentative agreement offers a 2.6% increase in base pay, a one‑off payment of 6 million won (about US$4,500), and improved benefits. Management’s last offer had given a 2.5% raise and a 5 million‑won payment.
Union demands originally included a 7.1% increase in base pay, a performance bonus equaling 600% of base pay, 50 company shares per worker, and a holiday bonus equal to 200% of base pay. The union also cited staffing shortages and aging facilities as concerns that could raise workplace accident risks.
The union plans to vote on the deal scheduled for Saturday and will proceed with the strike warning if the proposal is rejected.
