The POSCO labor union has rejected the tentative wage negotiation agreement, with 51% of members voting against it.
After approximately four months of negotiations and two partial strikes, the agreement failed to gain the support needed from union members, returning wage negotiations to square one.
On November 7, the union announced the results of the vote on the tentative wage agreement, which was rejected by 51% of participants.
Previously, on October 30, POSCO and the union had reached a tentative agreement that included a 2.6% increase in base salary, a one-time payment of 6 million won, and a special promotion to the third grade.
The one-time payment consisted of a 3.5 million won incentive for achieving targets, a 2 million won bonus for reaching an agreement, and a 500,000 won local gift certificate.
With the tentative agreement not receiving member approval, POSCO and the union are expected to face further challenges in their wage negotiations.
The two sides are likely to discuss the resumption of negotiations and future schedules.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.