POSCO union rejects provisional wage agreement... 51.7% opposed
48.31% in favor, 51.69% against... Labor-management renegotiation is inevitable
Quick Look
- This year's tentative agreement on wage negotiations between POSCO labor and management was rejected by 51.69% of union members.
- As a result, the agreement, which included basic salary increases and lump-sum payments, was canceled and labor and management began renegotiated.
AI-generated summary
Why It Matters
POSCO labor and management have negotiated about 30 times since June, but were unable to reach an agreement, leading to a partial strike. Afterwards, a tentative agreement was reached through last-minute negotiations, but it was rejected.
(Pohang = Yonhap News) Reporter Daeseong Son = The provisional agreement between POSCO labor and management for this year's wage negotiations was rejected in a vote of union members.
The representative bargaining union, the Federation of Korean Trade Unions and the POSCO Labor Union, announced on the 7th that the result of a vote by union members on the wage negotiation plan tentatively agreed upon with the company was 48.31% (4,433 votes) in favor and 51.69% (4,744 votes) against.
Accordingly, labor and management are in a situation where they must engage in renegotiation.
On the 30th of last month, the POSCO union tentatively agreed to wage negotiations with the company.
The agreement includes a 2.6% increase in basic salary, a lump sum of 6 million won, special award number 3 pay, holiday bonus of 2 million won + 20% of basic salary (increased to 30% after 2028), addition of shift holiday allowance, increase in resident and maintenance allowance, and improvement of the medical system (addition of spouse and children).
POSCO's union began wage negotiations with the company on June 16 and has conducted working-level and main negotiations about 30 times, but was unable to reach an agreement due to differences of opinion.
The union staged two partial strikes in September after wage negotiations with the company reached a deadlock.
With the union predicting a third strike, labor and management held last-minute negotiations and reached a provisional agreement on the 30th of last month, but union members rejected the provisional agreement in a vote.
A union official said, “There are a lot of opposing opinions, so I think we will have to renegotiate.”
A company official said, "Based on the philosophy of labor-management coexistence, we will continue sincere communication until the end to find an amicable agreement by deeply considering the management conditions and employees' emotions."
What to Watch
AI outlook — possibilities, not facts
POSCO labor-management renegotiation begins
Very likely · Within days
Open Questions
- Will the union begin a third strike in the future?
- Contents of key issues to be adjusted in renegotiation
