POSCO workers launch second partial strike demanding higher wages
Union members at South Korean steelmaker POSCO began a second partial strike, expanding the walkout that started a week earlier.
On Wednesday morning, unionized employees at POSCO, South Korea's leading steel producer, commenced a second partial strike at its Pohang and Gwangyang facilities. The walkout began at 7 a.m. and involves roughly double the number of workers compared with the earlier 48-hour strike that involved 120 employees. The union's demands include a 7.1% increase in base salary, a performance bonus equal to six times base pay, allocation of 50 company shares per worker and a holiday bonus worth twice the base pay, citing staffing shortages and aging plants as safety concerns.
Management has countered with a proposal for a 2% base-pay rise, leaving the parties far apart on key issues. POSCO estimates that about 60 workers at each site will participate, suggesting limited impact on overall production. The dispute marks the first strike at POSCO since its founding in 1968.
Why it matters
The strike highlights rising labor tensions in South Korea's key steel industry and could affect global steel supply.
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