POSCO and its labor union have reached a tentative wage agreement after 140 days of negotiations. The agreement includes a 2.6% increase in base salary and a total compensation package worth 6 million won, which encompasses bonuses and incentives.
On October 30, POSCO announced that the two sides had finalized the tentative agreement following a main negotiation session.
The agreement stipulates a 2.6% increase in base salary and a performance incentive bonus of 3.5 million won. Additionally, it includes a congratulatory bonus of 2 million won and a local gift certificate worth 500,000 won. Other benefits include an increase in holiday bonuses and improvements in medical expense support.
This agreement comes after approximately 140 days of negotiations that began with an introductory meeting in June. Throughout this period, the union and management held multiple main and working-level negotiations but struggled to reach consensus on the salary increase rate and compensation scale.
The labor union plans to conduct a vote among its members next week regarding the tentative agreement. If a majority of members approve, the 2026 wage negotiations will be finalized.
* This article has been translated by AI.
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